Board of the Pension Protection Fund Acquires 6,300 Shares of NiSource, Inc $NI

Key Points

• The Board of the Pension Protection Fund increased its stake in NiSource, Inc by 25.6% by acquiring an additional 6,300 shares, raising its total holdings to 30,900 shares valued at approximately $1.247 million.
• NiSource announced a quarterly dividend of $0.28 per share, with an ex-dividend date of October 31, which represents an annualized yield of 2.6%.
• Analysts have varying opinions on NiSource, with Jefferies Financial Group downgrading the stock from a "buy" to a "hold" while BMO Capital Markets raised its price target, indicating ongoing mixed sentiment in the market.

Board of the Pension Protection Fund raised its holdings in NiSource, Inc (NYSE:NI - Free Report) by 25.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,900 shares of the utilities provider's stock after purchasing an additional 6,300 shares during the quarter. Board of the Pension Protection Fund's holdings in NiSource were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Crumly & Associates Inc. lifted its position in shares of NiSource by 1.5% during the 2nd quarter. Crumly & Associates Inc. now owns 18,274 shares of the utilities provider's stock valued at $737,000 after buying an additional 265 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of NiSource by 48.8% during the 1st 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 last quarter. Signaturefd LLC lifted its position in shares of NiSource by 3.9% during the 2nd quarter. Signaturefd LLC now owns 7,167 shares of the utilities provider's stock valued at $289,000 after buying an additional 272 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of NiSource by 3.9% during the 1st quarter. Resonant Capital Advisors LLC now owns 7,448 shares of the utilities provider's stock valued at $299,000 after buying an additional 277 shares during the last quarter. Finally, Capital Analysts LLC lifted its position in shares of NiSource by 0.6% during the 1st quarter. Capital Analysts LLC now owns 50,416 shares of the utilities provider's stock valued at $2,021,000 after buying an additional 283 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

NiSource Stock Performance

NYSE:NI opened at $42.86 on Friday. The business's 50-day moving average price is $42.03 and its two-hundred day moving average price is $40.43. NiSource, Inc has a twelve month low of $33.74 and a twelve month high of $44.51. The stock has a market cap of $20.18 billion, a P/E ratio of 22.80, a PEG ratio of 2.90 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.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates 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 company earned $0.21 EPS. As a group, equities analysts predict that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's payout ratio is 59.57%.

Analysts Set New Price Targets

NI has been the topic of a number of recent research reports. Jefferies Financial Group cut NiSource from a "buy" rating to a "hold" rating and dropped their price target for the company from $48.00 to $44.00 in a research report on Friday, September 5th. BMO Capital Markets upped their price target on NiSource from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. Evercore ISI began coverage on NiSource in a research report on Monday, October 6th. They set an "in-line" rating and a $45.00 price target on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of NiSource in a report on Wednesday. Finally, Zacks Research raised NiSource to a "hold" rating in a report on Monday, August 11th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.44.

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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