FORA Capital LLC Acquires New Shares in NiSource, Inc $NI

Key Points

• FORA Capital LLC invested approximately $1.05 million in NiSource, acquiring 26,122 shares during the first quarter of the year.
• NiSource recently declared a quarterly dividend of $0.28, payable on November 20th, representing a yield of 2.6%.
• Analysts have a generally positive outlook on NiSource, with multiple firms issuing buy ratings and target prices ranging from $43 to $45.

FORA Capital LLC bought a new position in shares of NiSource, Inc (NYSE:NI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 26,122 shares of the utilities provider's stock, valued at approximately $1,047,000.

Other hedge funds also recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of NiSource by 185.0% during the 4th quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after acquiring an additional 6,001,486 shares in the last quarter. Vanguard Group Inc. increased its stake in NiSource by 5.3% during the first quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock valued at $2,439,236,000 after purchasing an additional 3,050,420 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of NiSource by 12.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider's stock worth $962,997,000 after purchasing an additional 2,650,827 shares during the period. Nuveen LLC acquired a new stake in shares of NiSource during the first quarter worth $71,839,000. Finally, Merewether Investment Management LP bought a new position in shares of NiSource in the 4th quarter worth about $47,389,000. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Price Performance

NiSource stock traded down $0.14 during midday trading on Tuesday, hitting $42.13. The company's stock had a trading volume of 2,361,939 shares, compared to its average volume of 3,496,031. The stock's 50-day moving average price is $41.39 and its 200-day moving average price is $40.01. The company has a market capitalization of $19.84 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.86 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. NiSource, Inc has a 12 month low of $32.92 and a 12 month high of $43.51.

NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same period in the previous year, the firm earned $0.21 EPS. Analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

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 given a $0.28 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.7%. NiSource's dividend payout ratio (DPR) is 59.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays reaffirmed 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. Wells Fargo & Company lifted their target price on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Guggenheim upped their target price on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, NiSource has a consensus rating of "Moderate Buy" and a consensus price target of $42.56.

About NiSource

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.