Lincoln Capital Corp Takes Position in NiSource, Inc (NYSE:NI)

Lincoln Capital Corp bought a new position in NiSource, Inc (NYSE:NI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 63,751 shares of the utilities provider's stock, valued at approximately $2,556,000. NiSource makes up approximately 1.1% of Lincoln Capital Corp's investment portfolio, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of NI. Canada Post Corp Registered Pension Plan bought a new stake in NiSource in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in 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 last quarter. Quent Capital LLC lifted its stake in NiSource by 44.7% in the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock worth $40,000 after purchasing an additional 310 shares during the last quarter. Optiver Holding B.V. boosted its position in 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 buying an additional 656 shares during the period. Finally, Bellwether Advisors LLC purchased a new stake in NiSource during the 4th quarter valued at about $55,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on NI. UBS Group raised their target price on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets lifted their price objective on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Wells Fargo & Company raised their target price on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Guggenheim raised their price objective on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource presently has an average rating of "Buy" and an average price target of $41.50.

NiSource Stock Up 0.2%

NiSource stock traded up $0.06 during mid-day trading on Thursday, hitting $39.47. The company had a trading volume of 2,207,562 shares, compared to its average volume of 4,129,043. NiSource, Inc has a 12 month low of $28.42 and a 12 month high of $41.45. The company has a market capitalization of $18.58 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. The stock's 50 day moving average price is $39.36 and its two-hundred day moving average price is $38.64. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. NiSource had a return on equity of 8.41% and a net margin of 14.67%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, sell-side analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's payout ratio is 60.54%.

Insider Activity at NiSource

In other news, EVP Melanie B. Berman sold 6,227 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 28,882 shares of the company's stock, valued at $1,138,528.44. The trade was a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Jesanis sold 6,178 shares of the business'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 completion of the transaction, the director owned 18,541 shares in the company, valued at $701,035.21. The trade was a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,405 shares of company stock valued at $631,939 in the last three months. 0.24% of the stock is owned by insiders.

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.