EntryPoint Capital LLC Takes $443,000 Position in NiSource, Inc $NI

Key Points

• EntryPoint Capital LLC invested $443,000 in NiSource, Inc by purchasing 11,060 shares during the first quarter, indicating increasing interest from institutional investors in the utilities sector.
• NiSource reported a quarterly earnings per share (EPS) of $0.22, exceeding analyst expectations, with anticipated EPS for the current year projected at 1.91.
• The company announced a quarterly dividend of $0.28 per share, allowing for an annualized dividend yield of 2.6%, with the payment date set for November 20th.

EntryPoint Capital LLC purchased a new stake in shares of NiSource, Inc (NYSE:NI - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,060 shares of the utilities provider's stock, valued at approximately $443,000.

Several other institutional investors and hedge funds have also modified their holdings of NI. Millennium Management LLC lifted its holdings in shares of NiSource by 185.0% in the 4th quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after buying an additional 6,001,486 shares during the period. Vanguard Group Inc. increased its stake in NiSource by 5.3% during the 1st 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 stake in NiSource by 10.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock worth $785,563,000 after buying an additional 1,965,334 shares in the last quarter. Nuveen LLC purchased a new stake in NiSource during the 1st quarter worth approximately $71,839,000. Finally, Merewether Investment Management LP purchased a new stake in NiSource during the 4th quarter worth approximately $47,389,000. Institutional investors and hedge funds own 91.64% of the company's stock.

Insider Activity at NiSource

In other news, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total transaction of $245,468.34. Following the completion of the transaction, the executive vice president directly owned 28,882 shares in the company, valued at $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on NI. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Barclays reaffirmed an "overweight" rating and issued a $44.00 price target (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. Wells Fargo & Company increased their price target on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets increased their price target on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.56.

NiSource Trading Up 1.4%

NI stock traded up $0.6050 during midday trading on Friday, hitting $42.8950. 3,793,711 shares of the company's stock were exchanged, compared to its average volume of 3,984,127. The business has a 50-day simple moving average of $41.02 and a two-hundred day simple moving average of $39.83. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $20.20 billion, a PE ratio of 22.82, a P/E/G ratio of 2.90 and a beta of 0.53. NiSource, Inc has a 1-year low of $32.51 and a 1-year high of $43.51.

NiSource (NYSE:NI - Get Free Report) last posted its 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. The company had revenue of $1.16 billion during 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 quarter last year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently declared 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. This represents a $1.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio (DPR) is currently 59.57%.

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.