NiSource, Inc (NYSE:NI) Shares Purchased by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its stake in NiSource, Inc by 11.8% during Q1, now holding 130,600 shares worth approximately $5.24 million.
• Multiple hedge funds have significantly altered their positions in NiSource, with some increasing holdings by over 105% in recent months.
• Recent analyses from various firms have resulted in a mix of ratings, with one firm downgrading NiSource to a sell, while others maintain a target price range of $43 to $45.

Forsta AP Fonden grew its holdings in NiSource, Inc (NYSE:NI - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 130,600 shares of the utilities provider's stock after buying an additional 13,800 shares during the period. Forsta AP Fonden's holdings in NiSource were worth $5,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC raised its holdings in NiSource by 185.0% during the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock worth $339,837,000 after purchasing an additional 6,001,486 shares in the last quarter. Capital International Investors purchased a new position in NiSource during the fourth quarter worth about $219,977,000. Vanguard Group Inc. raised its holdings in NiSource by 5.3% during the first quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock worth $2,439,236,000 after purchasing an additional 3,050,420 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in NiSource by 10.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock worth $785,563,000 after purchasing an additional 1,965,334 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in NiSource during the fourth quarter worth about $47,389,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NiSource

In other news, EVP Melanie B. Berman sold 6,227 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 28,882 shares of the company's stock, valued at $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 is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NI has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Wells Fargo & Company increased their target price on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen cut shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. BMO Capital Markets increased their target price on shares of NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Guggenheim increased their target price on shares of NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, NiSource has an average rating of "Moderate Buy" and an average target price of $42.56.

NiSource Price Performance

Shares of NI traded down $0.38 during mid-day trading on Friday, reaching $42.17. 808,859 shares of the company's stock were exchanged, compared to its average volume of 4,511,057. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The company has a 50-day simple moving average of $40.69 and a two-hundred day simple moving average of $39.61. NiSource, Inc has a 52-week low of $31.70 and a 52-week high of $43.51. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.89 and a beta of 0.53.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings data 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. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the company posted $0.21 EPS. On average, sell-side analysts predict that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's dividend payout ratio (DPR) is 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.