Hanson & Doremus Investment Management boosted its holdings in shares of NiSource Inc. (NYSE:NI - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,884 shares of the utilities provider's stock after buying an additional 7,189 shares during the period. NiSource makes up about 0.7% of Hanson & Doremus Investment Management's portfolio, making the stock its 25th largest position. Hanson & Doremus Investment Management's holdings in NiSource were worth $4,967,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of NiSource by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider's stock valued at $2,124,492,000 after purchasing an additional 2,459,452 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of NiSource by 10.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock valued at $785,563,000 after purchasing an additional 1,965,334 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NiSource by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 11,448,075 shares of the utilities provider's stock valued at $419,765,000 after purchasing an additional 700,747 shares during the last quarter. Millennium Management LLC raised its holdings in shares of NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after purchasing an additional 6,001,486 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock valued at $301,427,000 after purchasing an additional 2,714,262 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on NI. Mizuho raised their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, March 26th. Wells Fargo & Company raised their price objective on shares of NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. UBS Group raised their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, March 21st. BMO Capital Markets raised their price objective 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, Barclays raised their price objective on shares of NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, NiSource has an average rating of "Buy" and an average price target of $41.50.
Check Out Our Latest Report on NiSource
NiSource Price Performance
Shares of NYSE:NI opened at $39.47 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $18.58 billion, a PE ratio of 24.36, a P/E/G ratio of 2.56 and a beta of 0.54. NiSource Inc. has a twelve month low of $27.83 and a twelve month high of $41.45. The company has a 50-day moving average price of $39.07 and a two-hundred day moving average price of $38.41.
NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same quarter last year, the business earned $0.85 earnings per share. Equities analysts forecast that NiSource Inc. will post 1.91 EPS for the current year.
NiSource Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st will be given a $0.28 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.84%. NiSource's dividend payout ratio (DPR) is currently 60.54%.
Insider Activity
In related 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 value of $245,468.34. Following the sale, the executive vice president now directly owns 28,882 shares of the company's stock, valued at $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the completion of the sale, the director now directly owns 18,541 shares in the company, valued at $701,035.21. This represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,405 shares of company stock worth $631,939. 0.24% of the stock is owned by company insiders.
NiSource Profile
(
Free Report)
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.
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