Aberdeen Group plc Buys 40,789 Shares of NiSource, Inc $NI

Key Points

• Aberdeen Group plc increased its holdings in NiSource, Inc by 18.5% during the 1st quarter, now owning approximately $10.46 million worth of shares.
• Multiple institutional investors have expanded their stakes in NiSource, with Vanguard Group increasing its position by 5.3% and Millennium Management growing its stake by an impressive 185.0%.
• NiSource recently announced a quarterly dividend of $0.28, scheduled for payment on November 20th, representing an annualized yield of 2.6%.

Aberdeen Group plc boosted its position in NiSource, Inc (NYSE:NI - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,751 shares of the utilities provider's stock after purchasing an additional 40,789 shares during the quarter. Aberdeen Group plc owned about 0.06% of NiSource worth $10,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Horizon Investments LLC raised its holdings in shares of NiSource by 9.8% during the 1st quarter. Horizon Investments LLC now owns 6,792 shares of the utilities provider's stock worth $270,000 after buying an additional 608 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in NiSource in the 1st quarter worth about $602,000. Sei Investments Co. increased its holdings in NiSource by 1.0% in the 1st quarter. Sei Investments Co. now owns 748,320 shares of the utilities provider's stock worth $28,029,000 after purchasing an additional 7,642 shares in the last quarter. OneAscent Investment Solutions LLC acquired a new stake in shares of NiSource in the first quarter valued at about $357,000. Finally, Vestmark Advisory Solutions Inc. increased its stake in shares of NiSource by 24.0% in the first quarter. Vestmark Advisory Solutions Inc. now owns 13,269 shares of the utilities provider's stock valued at $532,000 after buying an additional 2,567 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Insider Transactions at NiSource

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president owned 28,882 shares in the company, valued at approximately $1,138,528.44. This 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 is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

NiSource Stock Up 1.4%

NYSE:NI traded up $0.6050 on Friday, hitting $42.8950. The stock had a trading volume of 3,793,711 shares, compared to its average volume of 3,984,127. The business's fifty day moving average is $41.02 and its 200 day moving average is $39.82. The company has a market cap of $20.20 billion, a PE ratio of 22.82, a P/E/G ratio of 2.86 and a beta of 0.53. 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 $32.51 and a 52 week high of $43.51.

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

NiSource Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on NI shares. BMO Capital Markets upped 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. Wells Fargo & Company upped 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. Barclays restated an "overweight" rating and set a $44.00 target price (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.56.

About NiSource

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.