Alyeska Investment Group L.P. Boosts Stock Position in NiSource, Inc $NI

Key Points

• Alyeska Investment Group L.P. increased its stock holdings in NiSource, Inc by 11.1% in Q1, bringing its total to 89,313 shares valued at $3.58 million.
• Hedge funds and institutional investors now own 91.64% of NiSource's stock, showing strong interest from large investment groups.
• NiSource will pay a quarterly dividend of $0.28 per share on November 20th, representing an annual yield of 2.8% with a payout ratio of 59.57%.

Alyeska Investment Group L.P. raised its stake in NiSource, Inc (NYSE:NI - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 89,313 shares of the utilities provider's stock after purchasing an additional 8,919 shares during the quarter. Alyeska Investment Group L.P.'s holdings in NiSource were worth $3,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock worth $31,000 after buying an additional 299 shares during the period. Larson Financial Group LLC increased its position in shares of NiSource by 48.8% in the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 266 shares during the period. Quent Capital LLC raised its stake in shares of NiSource by 44.7% during the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 310 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of NiSource by 57.3% during the first quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 499 shares during the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of NiSource by 39.4% during the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock worth $62,000 after purchasing an additional 438 shares during the period. Institutional investors own 91.64% of the company's stock.

NiSource Stock Up 1.1%

Shares of NYSE:NI traded up $0.45 during trading on Thursday, hitting $41.18. The stock had a trading volume of 4,422,536 shares, compared to its average volume of 3,841,977. The company has a market capitalization of $19.39 billion, a PE ratio of 21.91, a PEG ratio of 2.75 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The firm's fifty day moving average is $41.51 and its 200 day moving average is $40.04. NiSource, Inc has a 12 month low of $33.32 and a 12 month high of $43.51.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.16 billion. NiSource had a return on equity of 8.25% and a net margin of 14.46%.During the same period in the prior year, the firm earned $0.21 earnings per share. Analysts anticipate that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio (DPR) is presently 59.57%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NI. Barclays restated an "overweight" rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. Jefferies Financial Group downgraded NiSource from a "buy" rating to a "hold" rating and decreased their target price for the company from $48.00 to $44.00 in a report on Friday, September 5th. Finally, Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $43.11.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.