Headlands Technologies LLC Takes Position in NiSource, Inc (NYSE:NI)

Key Points

• Headlands Technologies LLC acquired 8,134 shares of NiSource, Inc, valued at approximately $326,000, during the 1st quarter.
• Analysts have upgraded their price targets for NiSource, with several firms including JPMorgan Chase & Co. raising their targets to between $43.00 and $45.00 and maintaining an "overweight" rating.
• NiSource declared a quarterly dividend of $0.28 per share, translating to an annualized yield of 2.7%, to be paid on August 20th.

Headlands Technologies LLC purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,134 shares of the utilities provider's stock, valued at approximately $326,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Canada Post Corp Registered Pension Plan acquired a new stake in NiSource during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock worth $31,000 after purchasing an additional 299 shares during the period. Larson Financial Group LLC increased its position in shares of NiSource by 48.8% in the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock worth $33,000 after purchasing an additional 266 shares during the period. Quent Capital LLC grew its position 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 acquiring an additional 310 shares during the last quarter. Finally, Optiver Holding B.V. boosted its stake in shares of NiSource by 105.0% during the fourth quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 656 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NI shares. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company lifted their target price on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Barclays reiterated an "overweight" rating and issued a $44.00 target price (up from $42.00) on shares of NiSource in a report on Monday, August 4th. JPMorgan Chase & Co. lifted their target price on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, BMO Capital Markets lifted their target price on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $42.56.

Insider Transactions at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of the business'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 transaction, the executive vice president directly owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by insiders.

NiSource Stock Down 0.3%

Shares of NI stock traded down $0.14 on Thursday, reaching $42.54. 1,745,160 shares of the stock were exchanged, compared to its average volume of 4,520,361. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The business's 50 day moving average price is $40.61 and its 200 day moving average price is $39.57. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 2.86 and a beta of 0.53. NiSource, Inc has a twelve month low of $31.40 and a twelve month high of $43.51.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, beating 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 firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, sell-side analysts expect that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's payout ratio is presently 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.