NiSource, Inc (NYSE:NI) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 647,519 shares of the utilities provider's stock after purchasing an additional 116,213 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of NiSource worth $25,959,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Penserra Capital Management LLC boosted its position in NiSource by 1,890.8% in the 1st quarter. Penserra Capital Management LLC now owns 23,511 shares of the utilities provider's stock valued at $942,000 after buying an additional 22,330 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of NiSource in the 1st quarter valued at about $76,000. IFM Investors Pty Ltd raised its holdings in shares of NiSource by 1.9% in the 1st quarter. IFM Investors Pty Ltd now owns 188,428 shares of the utilities provider's stock valued at $7,554,000 after purchasing an additional 3,485 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of NiSource by 6.6% in the 1st quarter. OneDigital Investment Advisors LLC now owns 12,276 shares of the utilities provider's stock valued at $492,000 after purchasing an additional 764 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in shares of NiSource in the 1st quarter valued at about $345,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NI has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Mizuho boosted their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 26th. Guggenheim boosted their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. BMO Capital Markets boosted their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, UBS Group upped their price target on shares of NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $41.50.

NiSource Stock Performance

Shares of NI stock traded up $0.59 during trading hours on Friday, hitting $40.81. The company's stock had a trading volume of 1,351,963 shares, compared to its average volume of 4,134,847. The company has a 50 day moving average of $39.39 and a 200 day moving average of $38.88. The stock has a market cap of $19.21 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.72 and a beta of 0.54. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 1.17. NiSource, Inc has a 12-month low of $30.22 and a 12-month high of $41.45.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. NiSource had a net margin of 14.67% and a return on equity of 8.41%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts forecast that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, July 31st. NiSource's payout ratio is 60.54%.

Insider Transactions at NiSource

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the stock in a transaction dated Friday, May 30th. The shares were 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 owned 28,882 shares of the company's stock, valued at $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the completion of the transaction, the director directly owned 18,541 shares of the company's stock, valued at approximately $701,035.21. The trade was a 24.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,405 shares of company stock valued at $631,939 over the last quarter. Company insiders own 0.24% of the company's stock.

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.