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NiSource, Inc (NYSE:NI) Shares Purchased by Exchange Traded Concepts LLC

NiSource logo with Utilities background

Exchange Traded Concepts LLC raised its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 762,895 shares of the utilities provider's stock after purchasing an additional 27,468 shares during the quarter. Exchange Traded Concepts LLC owned about 0.16% of NiSource worth $30,584,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hartford Investment Management Co. increased its position in shares of NiSource by 2.3% in the 4th quarter. Hartford Investment Management Co. now owns 29,055 shares of the utilities provider's stock valued at $1,068,000 after acquiring an additional 657 shares during the period. Asset Management One Co. Ltd. lifted its position in NiSource by 83.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 314,522 shares of the utilities provider's stock worth $11,562,000 after acquiring an additional 143,352 shares during the period. Vontobel Holding Ltd. grew its stake in NiSource by 20.5% during the 4th quarter. Vontobel Holding Ltd. now owns 12,266 shares of the utilities provider's stock valued at $451,000 after purchasing an additional 2,087 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its stake in NiSource by 1.9% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 244,945 shares of the utilities provider's stock valued at $9,004,000 after purchasing an additional 4,474 shares during the last quarter. Finally, Everhart Financial Group Inc. increased its holdings in shares of NiSource by 4.1% in the fourth quarter. Everhart Financial Group Inc. now owns 29,223 shares of the utilities provider's stock valued at $1,074,000 after purchasing an additional 1,142 shares during the period. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Stock Performance

NiSource stock traded down $0.02 during mid-day trading on Wednesday, hitting $39.26. The company had a trading volume of 4,725,275 shares, compared to its average volume of 4,582,619. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.66 and a beta of 0.54. NiSource, Inc has a 12-month low of $28.08 and a 12-month high of $41.44. The company's fifty day moving average is $39.13 and its 200-day moving average is $38.42. 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 (NYSE:NI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.32 billion. NiSource had a net margin of 14.67% and a return on equity of 8.41%. During the same period in the previous year, the business posted $0.85 EPS. Equities research analysts predict that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, July 31st. NiSource's payout ratio is currently 60.54%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their target price on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. BMO Capital Markets raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Guggenheim lifted their price objective on shares of NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Mizuho upped their price objective on shares of NiSource from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Wednesday, March 26th. Finally, Barclays raised their target price on shares of NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $41.50.

View Our Latest Stock Analysis on NiSource

Insider Activity

In related news, Director Michael E. Jesanis sold 6,178 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total value of $233,590.18. Following the completion of the sale, the director now owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the sale, the executive vice president now directly owns 28,882 shares in the company, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,405 shares of company stock worth $631,939 in the last ninety days. Company insiders own 0.24% of the company's stock.

NiSource Company Profile

(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.

See Also

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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