NiSource, Inc $NI Shares Acquired by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. increased its holdings in NiSource by 16.0%, acquiring an additional 203,059 shares in the first quarter, bringing their total ownership to approximately $59 million.
• NiSource reported a net margin of 14.46% and earnings per share of $0.22 for the last quarter, surpassing the consensus estimate of $0.21.
• The company declared a quarterly dividend of $0.28 per share, with an annualized yield of 2.6%, to be paid on November 20th.

Bahl & Gaynor Inc. grew its position in NiSource, Inc (NYSE:NI - Free Report) by 16.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,474,098 shares of the utilities provider's stock after purchasing an additional 203,059 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.31% of NiSource worth $59,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in NiSource by 1.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider's stock valued at $514,000 after purchasing an additional 256 shares during the last quarter. Larson Financial Group LLC increased its position in shares of NiSource by 48.8% during the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock worth $33,000 after purchasing an additional 266 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of NiSource by 3.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,448 shares of the utilities provider's stock valued at $299,000 after purchasing an additional 277 shares during the last quarter. Capital Analysts LLC boosted its position in shares of NiSource by 0.6% in the 1st quarter. Capital Analysts LLC now owns 50,416 shares of the utilities provider's stock valued at $2,021,000 after purchasing an additional 283 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in NiSource by 4.2% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider's stock worth $268,000 after buying an additional 291 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the completion of the transaction, the executive vice president owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.24% of the company's stock.

NiSource Stock Down 0.6%

NiSource stock traded down $0.26 during trading on Tuesday, reaching $42.41. 4,133,365 shares of the company's stock were exchanged, compared to its average volume of 3,977,188. NiSource, Inc has a 52-week low of $32.53 and a 52-week high of $43.51. The firm has a market cap of $19.97 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.88 and a beta of 0.53. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. The company's 50-day moving average is $41.09 and its two-hundred day moving average is $39.88.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $0.21 earnings per share. On average, analysts predict that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders 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 dividend yield of 2.6%. NiSource's dividend payout ratio (DPR) is currently 59.57%.

Analysts Set New Price Targets

A number of research analysts have commented on NI shares. Guggenheim upped their target price on shares of NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wells Fargo & Company raised their price objective on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Barclays reissued an "overweight" rating and issued a $44.00 price objective (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.56.

About NiSource

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.