NiSource, Inc (NYSE:NI) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in NiSource, Inc by 5.3%, owning approximately 831,758 shares valued at $33.35 million as of its latest SEC filing.
• A significant majority of NiSource's stock, 91.64%, is owned by institutional investors and hedge funds following recent increases in positions by several firms.
• Analyst ratings for NiSource are mixed, with an average rating of "Moderate Buy" and price targets ranging from $42.00 to $45.00, highlighting investor optimism despite some downgrade signals.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in NiSource, Inc (NYSE:NI - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 831,758 shares of the utilities provider's stock after purchasing an additional 41,701 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of NiSource worth $33,345,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. LPL Financial LLC increased its position in NiSource by 29.9% in the first quarter. LPL Financial LLC now owns 234,234 shares of the utilities provider's stock worth $9,390,000 after buying an additional 53,972 shares during the last quarter. Lincoln Capital Corp purchased a new position in shares of NiSource in the first quarter valued at $2,556,000. Capital International Inc. CA purchased a new position in shares of NiSource in the fourth quarter valued at $34,612,000. Asset Management One Co. Ltd. grew its position in NiSource by 14.0% during the first quarter. Asset Management One Co. Ltd. now owns 358,469 shares of the utilities provider's stock worth $14,371,000 after buying an additional 43,947 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in NiSource during the fourth quarter worth about $2,955,000. Institutional investors own 91.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

NiSource Stock Down 0.3%

Shares of NiSource stock traded down $0.14 during trading on Thursday, hitting $42.54. 1,745,160 shares of the stock were exchanged, compared to its average volume of 4,520,361. NiSource, Inc has a 12-month low of $31.40 and a 12-month high of $43.51. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48. The firm's 50-day moving average price is $40.61 and its 200 day moving average price is $39.57.

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

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders 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 annualized dividend and a dividend yield of 2.6%. NiSource's dividend payout ratio is currently 59.57%.

Insider Activity at NiSource

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 transaction of $245,468.34. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.