NiSource, Inc $NI Shares Acquired by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its stake in NiSource, Inc by 47.2% during the second quarter, owning 20,328 shares valued at approximately $820,000.
• Analysts have mixed ratings on NiSource, with eight analysts rating it as a Buy and three as Hold, resulting in an average target price of $44.44.
• NiSource announced a quarterly dividend of $0.28 per share, yielding 2.6%, with the payment scheduled for November 20th.

MGO One Seven LLC lifted its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 47.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,328 shares of the utilities provider's stock after purchasing an additional 6,520 shares during the quarter. MGO One Seven LLC's holdings in NiSource were worth $820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in shares of NiSource during the 2nd quarter worth $32,000. Larson Financial Group LLC grew its stake 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 worth $33,000 after purchasing an additional 266 shares during the period. Trust Co. of Toledo NA OH acquired a new position in shares of NiSource during the 2nd quarter worth $40,000. Brooklyn Investment Group grew its stake in shares of NiSource by 57.3% during the 1st quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider's stock worth $55,000 after purchasing an additional 499 shares during the period. Finally, Hemington Wealth Management grew its stake in shares of NiSource by 39.4% during the 1st quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock worth $62,000 after purchasing an additional 438 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NI. Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Barclays reiterated an "overweight" rating and issued a $44.00 price objective (up from $42.00) on shares of NiSource in a research report on Monday, August 4th. Jefferies Financial Group lowered shares of NiSource from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $48.00 to $44.00 in a research report on Friday, September 5th. Zacks Research upgraded shares of NiSource to a "hold" rating in a research report on Monday, August 11th. Finally, BMO Capital Markets boosted their price objective on shares of NiSource from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, September 29th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.44.

NiSource Price Performance

NYSE:NI opened at $43.24 on Friday. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 3.21 and a beta of 0.60. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The company's 50-day moving average is $42.07 and its two-hundred day moving average is $40.51. NiSource, Inc has a 12-month low of $34.23 and a 12-month high of $44.51.

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

NiSource Dividend Announcement

The company also recently announced 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. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio is 59.57%.

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.

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