Jennison Associates LLC Has $464.16 Million Holdings in NiSource, Inc (NYSE:NI)

Jennison Associates LLC lifted its stake in NiSource, Inc (NYSE:NI - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,577,832 shares of the utilities provider's stock after acquiring an additional 857,653 shares during the quarter. Jennison Associates LLC owned approximately 2.46% of NiSource worth $464,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NI. Canada Post Corp Registered Pension Plan acquired a new position in shares of NiSource during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in NiSource by 64.2% during the 1st 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 last quarter. Larson Financial Group LLC raised its position in shares of NiSource by 48.8% in the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock worth $33,000 after acquiring an additional 266 shares in the last quarter. Quent Capital LLC grew its stake in shares of NiSource by 44.7% in the 1st 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 during the period. Finally, Optiver Holding B.V. boosted its stake in NiSource by 105.0% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Trading Up 1.0%

NYSE:NI opened at $40.61 on Friday. NiSource, Inc has a 52 week low of $30.22 and a 52 week high of $41.45. The firm has a 50 day moving average of $39.39 and a 200 day moving average of $38.88. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 2.72 and a beta of 0.54.

NiSource (NYSE:NI - Get Free Report) last posted its earnings results 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 analysts' expectations 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 company posted $0.85 earnings per share. As a group, sell-side analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is presently 60.54%.

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 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 completion of the sale, the executive vice president owned 28,882 shares in the company, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Jesanis sold 6,178 shares of the stock in a transaction dated 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 transaction, the director owned 18,541 shares of the company's stock, valued at $701,035.21. This represents a 24.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,405 shares of company stock valued at $631,939. Company insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

NI has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Barclays increased their target price on NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Wells Fargo & Company upped their price target on shares of NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Mizuho increased their target price on NiSource from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, March 26th. Finally, UBS Group raised their price objective on NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource presently has a consensus rating of "Buy" and a consensus target price of $41.50.

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.

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