Dynamic Technology Lab Private Ltd Invests $2.12 Million in NiSource, Inc $NI

Key Points

• Dynamic Technology Lab Private Ltd made a new investment in NiSource, acquiring 52,752 shares worth about $2.12 million in the first quarter.
• NiSource recently announced a quarterly dividend of $0.28 per share, with an ex-dividend date set for October 31st.
• The company's stock holds an average rating of "Moderate Buy" among analysts, with a consensus price target set at $43.11.

Dynamic Technology Lab Private Ltd purchased a new position in shares of NiSource, Inc (NYSE:NI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 52,752 shares of the utilities provider's stock, valued at approximately $2,115,000.

A number of other institutional investors also recently modified their holdings of NI. Millennium Management LLC raised its holdings in shares of NiSource by 185.0% during the 4th quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock worth $339,837,000 after buying an additional 6,001,486 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of NiSource by 5.3% during the first quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock worth $2,439,236,000 after buying an additional 3,050,420 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of NiSource by 12.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider's stock worth $962,997,000 after buying an additional 2,650,827 shares in the last quarter. Alkeon Capital Management LLC acquired a new position in shares of NiSource during the first quarter worth $98,682,000. Finally, Nuveen LLC acquired a new position in shares of NiSource during the first quarter worth $71,839,000. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Trading Up 1.3%

NI opened at $40.35 on Friday. NiSource, Inc has a twelve month low of $33.03 and a twelve month high of $43.51. 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 company has a fifty day moving average of $41.44 and a 200-day moving average of $40.02. The stock has a market cap of $19.00 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.73 and a beta of 0.60.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data 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. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts predict that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be given 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 2.8%. NiSource's dividend payout ratio is 59.57%.

Analysts Set New Price Targets

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.