Eventide Asset Management LLC Raises Stock Holdings in NiSource, Inc $NI

Key Points

• Eventide Asset Management LLC significantly increased its holdings in NiSource, Inc by 55.3% during the 1st quarter, bringing its ownership to 515,040 shares valued at approximately $20.6 million.
• NiSource has seen multiple analysts raising their price targets, with Wells Fargo updating theirs to $45.00 and maintaining an "overweight" rating for the stock.
• The company recently announced a quarterly dividend of $0.28 per share, which will be paid on November 20th, reflecting a yield of 2.7% based on its current stock price.

Eventide Asset Management LLC lifted its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 55.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 515,040 shares of the utilities provider's stock after buying an additional 183,485 shares during the period. Eventide Asset Management LLC owned about 0.11% of NiSource worth $20,645,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC grew its position in shares of NiSource by 5.1% during the 1st quarter. AQR Capital Management LLC now owns 950,654 shares of the utilities provider's stock worth $38,112,000 after purchasing an additional 45,791 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of NiSource by 11.1% during the first quarter. Alyeska Investment Group L.P. now owns 89,313 shares of the utilities provider's stock valued at $3,581,000 after buying an additional 8,919 shares during the last quarter. Alkeon Capital Management LLC purchased a new position in NiSource during the first quarter worth about $98,682,000. Graham Capital Management L.P. bought a new stake in NiSource in the first quarter worth about $9,775,000. Finally, Energy Income Partners LLC increased its holdings in NiSource by 2.4% during the 1st quarter. Energy Income Partners LLC now owns 348,755 shares of the utilities provider's stock worth $13,982,000 after acquiring an additional 8,265 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NI shares. Jefferies Financial Group lowered shares of NiSource from a "buy" rating to a "hold" rating and lowered their price target for the company from $48.00 to $44.00 in a report on Friday. Zacks Research upgraded shares of NiSource to a "hold" rating in a report on Monday, August 11th. Barclays reiterated an "overweight" rating and set a $44.00 price target (up from $42.00) on shares of NiSource in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, NiSource presently has an average rating of "Moderate Buy" and a consensus target price of $43.11.

NiSource Stock Up 1.0%

NYSE:NI traded up $0.42 during mid-day trading on Tuesday, reaching $40.65. The company's stock had a trading volume of 1,211,607 shares, compared to its average volume of 4,485,930. The firm has a market capitalization of $19.14 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.73 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The stock has a fifty day moving average of $41.44 and a 200-day moving average of $40.03. NiSource, Inc has a 1 year low of $33.03 and a 1 year high of $43.51.

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

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio (DPR) is presently 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.