NiSource, Inc (NYSE:NI) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in NiSource, Inc by 20.6% during the first quarter, acquiring an additional 115,283 shares, bringing its total ownership to approximately $27 million.
• Several institutional investors, including Millennium Management LLC and Vanguard Group Inc., have also significantly raised their positions in NiSource, with institutional ownership now at 91.64%.
• Analyst ratings for NiSource have seen adjustments, with Guggenheim and BMO Capital Markets lifting price targets to $43 and Wells Fargo increasing it to $45, while Wall Street Zen downgraded the stock to a "sell" rating.

National Bank of Canada FI lifted its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 673,897 shares of the utilities provider's stock after purchasing an additional 115,283 shares during the period. National Bank of Canada FI owned 0.14% of NiSource worth $27,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NI. Canada Post Corp Registered Pension Plan purchased a new stake in shares of NiSource during the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of NiSource by 64.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after buying an additional 299 shares during the period. Larson Financial Group LLC raised its position in shares of NiSource by 48.8% during the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after buying an additional 266 shares during the period. Quent Capital LLC raised its position in shares of NiSource by 44.7% during 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. raised its position in shares of 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 buying an additional 656 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Stock Down 0.3%

Shares of NiSource stock traded down $0.13 during trading hours on Thursday, reaching $42.55. 3,036,833 shares of the company were exchanged, compared to its average volume of 4,525,979. NiSource, Inc has a 1 year low of $31.40 and a 1 year high of $43.51. The stock's fifty day moving average is $40.61 and its 200 day moving average is $39.57. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. The firm has a market cap of $20.04 billion, a PE ratio of 22.63, a PEG ratio of 2.86 and a beta of 0.53.

NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $1.16 billion during 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 in the previous year, the firm posted $0.21 earnings per share. As a group, equities research analysts forecast that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. NiSource's payout ratio is presently 59.57%.

Insider Activity at NiSource

In related 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 transaction, the executive vice president owned 28,882 shares in the company, 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. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NI. Barclays reaffirmed an "overweight" rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. 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 report on Thursday, April 24th. Guggenheim boosted their target price on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company boosted 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 target price on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, NiSource has a consensus rating of "Moderate Buy" and an average target price of $42.56.

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.