213,000 Shares in NiSource, Inc $NI Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in NiSource, Inc during the first quarter, purchasing 213,000 shares valued at approximately $8.5 million.
• Several institutional investors increased their holdings in NiSource, with 91.64% of the stock now owned by such entities, indicating strong investor interest.
• NiSource's quarterly earnings surpassed estimates, reporting $0.22 EPS, and the company announced a forthcoming dividend of $0.28 per share, reflecting a sustainable return for investors.

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in NiSource, Inc (NYSE:NI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 213,000 shares of the utilities provider's stock, valued at approximately $8,539,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new stake in shares of NiSource during the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of NiSource by 64.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 299 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of NiSource by 48.8% during the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 266 shares in the last quarter. Quent Capital LLC raised its stake in shares of NiSource by 44.7% during the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 310 shares in the last quarter. Finally, Optiver Holding B.V. raised its stake in shares of NiSource by 105.0% during the fourth quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 656 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. 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. Wall Street Zen cut shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of NiSource to a "hold" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. upped their price target on shares of NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Barclays restated an "overweight" rating and set a $44.00 price objective (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $42.56.

Insiders Place Their Bets

In related news, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company's stock.

NiSource Price Performance

Shares of NYSE:NI traded up $0.2280 during trading hours on Wednesday, hitting $42.5080. 2,644,238 shares of the company's stock traded hands, compared to its average volume of 4,074,951. NiSource, Inc has a 52 week low of $32.10 and a 52 week high of $43.51. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. The company's fifty day simple moving average is $40.90 and its two-hundred day simple moving average is $39.75. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $1.16 billion for 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 business posted $0.21 EPS. As a group, equities analysts anticipate that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. 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.