Envestnet Portfolio Solutions Inc. lifted its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,182 shares of the utilities provider's stock after purchasing an additional 10,738 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in NiSource were worth $8,627,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vontobel Holding Ltd. raised its stake in NiSource by 20.5% in the 4th quarter. Vontobel Holding Ltd. now owns 12,266 shares of the utilities provider's stock valued at $451,000 after acquiring an additional 2,087 shares during the period. Principal Securities Inc. raised its stake in NiSource by 53.7% in the 4th quarter. Principal Securities Inc. now owns 4,382 shares of the utilities provider's stock valued at $161,000 after acquiring an additional 1,531 shares during the period. Allworth Financial LP raised its stake in NiSource by 23.0% in the 4th quarter. Allworth Financial LP now owns 3,053 shares of the utilities provider's stock valued at $115,000 after acquiring an additional 570 shares during the period. CIBC Asset Management Inc raised its stake in NiSource by 7.9% in the 4th quarter. CIBC Asset Management Inc now owns 70,490 shares of the utilities provider's stock valued at $2,591,000 after acquiring an additional 5,182 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in NiSource by 86.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 18,827 shares of the utilities provider's stock valued at $692,000 after acquiring an additional 8,752 shares during the period. Institutional investors own 91.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on NI. BMO Capital Markets increased their price target on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Mizuho increased their price target on NiSource from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, March 26th. Wells Fargo & Company increased their price target on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, UBS Group upped their price objective on NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a report on Friday, March 21st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource has an average rating of "Buy" and a consensus target price of $41.50.
Get Our Latest Report on NiSource
NiSource Stock Performance
NYSE NI traded up $0.23 on Friday, reaching $39.51. The stock had a trading volume of 6,150,667 shares, compared to its average volume of 4,115,616. The company has a market cap of $18.60 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. NiSource, Inc has a 1-year low of $28.29 and a 1-year high of $41.45. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.52 and a quick ratio of 0.45. The firm has a fifty day moving average of $39.20 and a two-hundred day moving average of $38.47.
NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.32 billion. NiSource had a return on equity of 8.41% and a net margin of 14.67%. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that NiSource, Inc will post 1.91 EPS for the current year.
NiSource Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders 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 dividend yield of 2.84%. The ex-dividend date is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is currently 60.54%.
Insider Transactions at NiSource
In related news, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the sale, the director now directly owns 18,541 shares of the company's stock, valued at $701,035.21. This trade represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the completion of the sale, the executive vice president now directly owns 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 disclosure for this sale can be found here. In the last three months, insiders have sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is owned by corporate insiders.
NiSource Profile
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Free Report)
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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