Hanson & Doremus Investment Management Grows Stock Holdings in NiSource, Inc (NYSE:NI)

Hanson & Doremus Investment Management increased its holdings in NiSource, Inc (NYSE:NI - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,884 shares of the utilities provider's stock after buying an additional 7,189 shares during the quarter. NiSource comprises approximately 0.7% of Hanson & Doremus Investment Management's investment portfolio, making the stock its 25th largest holding. Hanson & Doremus Investment Management's holdings in NiSource were worth $4,967,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NI. Canada Post Corp Registered Pension Plan purchased a new stake in NiSource in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in NiSource by 64.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock worth $31,000 after buying an additional 299 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in NiSource during the fourth quarter valued at $40,000. Quent Capital LLC increased its holdings in NiSource by 44.7% in the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after buying an additional 310 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in shares of NiSource by 105.0% in the fourth quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock worth $47,000 after acquiring an additional 656 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Price Performance

Shares of NYSE NI traded down $0.02 during mid-day trading on Thursday, reaching $39.26. The company's stock had a trading volume of 4,725,887 shares, compared to its average volume of 4,142,761. The stock has a 50-day moving average of $39.15 and a two-hundred day moving average of $38.43. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.45 and a current ratio of 0.52. The stock has a market capitalization of $18.48 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.66 and a beta of 0.54. NiSource, Inc has a 1-year low of $28.08 and a 1-year high of $41.45.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.32 billion. NiSource had a net margin of 14.67% and a return on equity of 8.41%. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities research analysts anticipate that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

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

Wall Street Analysts Forecast Growth

NI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Barclays boosted their price objective on NiSource from $38.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Wells Fargo & Company increased their target price on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. BMO Capital Markets boosted their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Mizuho upped their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $41.50.

Insider Transactions at NiSource

In other NiSource news, Director Michael E. Jesanis sold 6,178 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total value of $233,590.18. Following the transaction, the director now owns 18,541 shares of the company's stock, valued at $701,035.21. This represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction dated 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 owns 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,405 shares of company stock worth $631,939 in the last 90 days. Insiders own 0.24% of the company's stock.

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.