ASR Vermogensbeheer N.V. Has $1.49 Million Stock Position in NiSource, Inc $NI

Key Points

• ASR Vermogensbeheer N.V. has increased its holdings in NiSource, Inc by 232.5%, owning 36,919 shares valued at $1.49 million as of its latest SEC filing.
• Wall Street analysts currently hold a consensus rating of "Moderate Buy" for NiSource, with a target price of $44.38, despite some recent downgrades.
• NiSource announced a quarterly dividend of $0.28 per share, which will be paid on November 20th, representing an annual yield of 2.6%.

ASR Vermogensbeheer N.V. boosted its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 232.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,919 shares of the utilities provider's stock after buying an additional 25,817 shares during the period. ASR Vermogensbeheer N.V.'s holdings in NiSource were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NI. Larson Financial Group LLC raised its position in NiSource by 48.8% during the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after buying an additional 266 shares during the period. Brooklyn Investment Group raised its position in 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 buying an additional 499 shares during the period. Hemington Wealth Management raised its position in NiSource by 39.4% during the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock valued at $62,000 after buying an additional 438 shares during the period. Rossby Financial LCC purchased a new position in NiSource in the first quarter valued at about $69,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in NiSource in the first quarter valued at about $76,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NI shares. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays restated an "overweight" rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a research note on Monday, August 4th. Jefferies Financial Group downgraded NiSource from a "buy" rating to a "hold" rating and lowered their target price for the company from $48.00 to $44.00 in a research note on Friday, September 5th. BMO Capital Markets boosted their target price on NiSource from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Finally, Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, NiSource presently has an average rating of "Moderate Buy" and a consensus price target of $44.38.

NiSource Stock Performance

NI opened at $43.88 on Friday. The company has a market cap of $20.66 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. The stock has a 50-day moving average of $41.91 and a 200-day moving average of $40.30. NiSource, Inc has a 52-week low of $33.65 and a 52-week high of $44.18. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59.

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

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, October 31st. This represents a $1.12 annualized dividend and a yield of 2.6%. NiSource's dividend payout ratio is presently 59.57%.

NiSource 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.

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