Fox Run Management L.L.C. Takes Position in NiSource, Inc $NI

Key Points

• Fox Run Management L.L.C. recently acquired approximately $602,000 worth of NiSource, Inc. by purchasing 15,011 shares in the first quarter.
• Analyst ratings for NiSource show strong support, with Barclays reaffirming an "overweight" rating and raising the price target to $44.00, indicating a positive sentiment in the markets.
• NiSource declared a quarterly dividend of $0.28, with an annualized yield of 2.7%, and will be paid on November 20th to shareholders on record by October 31st.

Fox Run Management L.L.C. purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,011 shares of the utilities provider's stock, valued at approximately $602,000.

A number of other hedge funds have also made changes to their positions in NI. Raymond James Financial Inc. purchased a new position in shares of NiSource in the fourth quarter valued at $15,522,000. Townsquare Capital LLC increased its position in shares of NiSource by 4.6% in the fourth quarter. Townsquare Capital LLC now owns 7,408 shares of the utilities provider's stock valued at $272,000 after buying an additional 323 shares in the last quarter. Mariner LLC increased its position in shares of NiSource by 7.1% in the fourth quarter. Mariner LLC now owns 45,247 shares of the utilities provider's stock valued at $1,663,000 after buying an additional 2,987 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of NiSource in the fourth quarter valued at $210,000. Finally, United Capital Financial Advisors LLC increased its position in shares of NiSource by 7.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 8,293 shares of the utilities provider's stock valued at $305,000 after buying an additional 609 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Price Performance

NiSource stock traded up $0.6050 during midday trading on Friday, reaching $42.8950. 3,793,711 shares of the company were exchanged, compared to its average volume of 3,984,127. The firm's 50-day simple moving average is $41.02 and its 200-day simple moving average is $39.83. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. NiSource, Inc has a 1 year low of $32.51 and a 1 year high of $43.51. The company has a market capitalization of $20.20 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 2.90 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. NiSource had a return on equity of 8.25% and a net margin of 14.46%.The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.21 EPS. On average, analysts anticipate that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's dividend payout ratio (DPR) is presently 59.57%.

Insider Transactions at NiSource

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the firm's 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 sale, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NI. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Wells Fargo & Company raised their price target on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. BMO Capital Markets lifted their price objective on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Guggenheim lifted their price objective on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, NiSource currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.56.

NiSource 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.