MBB Public Markets I LLC Invests $322,000 in NiSource, Inc $NI

Key Points

• MBB Public Markets I LLC has invested approximately $322,000 in 8,024 shares of NiSource, marking the establishment of a new position in the utility company.
• NiSource recently announced a quarterly dividend of $0.28 per share, expected to be paid out on November 20th, which represents a 2.8% annualized yield.
• Several hedge funds have increased their positions in NiSource, with 91.64% of the stock currently owned by institutional investors.

MBB Public Markets I LLC purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,024 shares of the utilities provider's stock, valued at approximately $322,000.

Other hedge funds have also added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its holdings in NiSource by 2.4% in the fourth quarter. EP Wealth Advisors LLC now owns 14,433 shares of the utilities provider's stock valued at $531,000 after purchasing an additional 334 shares during the period. Ethic Inc. acquired a new position in shares of NiSource during the fourth quarter valued at about $223,000. Focus Partners Wealth boosted its holdings in NiSource by 43.7% in the fourth quarter. Focus Partners Wealth now owns 12,140 shares of the utilities provider's stock worth $446,000 after acquiring an additional 3,692 shares in the last quarter. Gotham Asset Management LLC increased its stake in NiSource by 124.5% during the 4th quarter. Gotham Asset Management LLC now owns 52,914 shares of the utilities provider's stock valued at $1,945,000 after purchasing an additional 29,343 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in shares of NiSource by 400.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 125,193 shares of the utilities provider's stock worth $4,602,000 after acquiring an additional 100,193 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NI has been the topic of a number of research analyst reports. Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays reiterated an "overweight" rating and issued a $44.00 price objective (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Finally, Jefferies Financial Group lowered shares of NiSource from a "buy" rating to a "hold" rating and decreased their price target for the stock from $48.00 to $44.00 in a report on Friday, September 5th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NiSource has an average rating of "Moderate Buy" and a consensus target price of $43.88.

NiSource Stock Performance

NI traded down $0.13 during midday trading on Friday, hitting $41.00. 2,379,899 shares of the company traded hands, compared to its average volume of 4,471,938. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. NiSource, Inc has a 52 week low of $33.32 and a 52 week high of $43.51. The firm has a market capitalization of $19.31 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 2.75 and a beta of 0.60. The company's 50-day moving average is $41.51 and its 200 day moving average is $40.04.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same quarter last year, the firm posted $0.21 earnings per share. On average, research analysts expect that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be given a $0.28 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.7%. NiSource's dividend payout ratio (DPR) is currently 59.57%.

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.