NiSource, Inc (NYSE:NI) Position Lifted by TCW Group Inc.

Key Points

• TCW Group Inc. increased its stake in NiSource by 2.9%, now holding approximately 1.75 million shares, valued at over $70 million.
• Analysts have raised their price targets for NiSource, with recommendations for a buy rating and an average target price of $41.50.
• NiSource recently announced a quarterly dividend of $0.28 per share, resulting in an annualized yield of 2.65% and a payout ratio of 60.54%.

TCW Group Inc. boosted its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,753,895 shares of the utilities provider's stock after buying an additional 49,840 shares during the quarter. TCW Group Inc. owned 0.37% of NiSource worth $70,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its position in NiSource by 10.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock worth $785,563,000 after buying an additional 1,965,334 shares during the period. Jennison Associates LLC lifted its holdings in shares of NiSource by 8.0% in the first quarter. Jennison Associates LLC now owns 11,577,832 shares of the utilities provider's stock valued at $464,155,000 after purchasing an additional 857,653 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NiSource by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 11,448,075 shares of the utilities provider's stock valued at $419,765,000 after purchasing an additional 700,747 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after purchasing an additional 6,001,486 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock valued at $301,427,000 after purchasing an additional 2,714,262 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NiSource news, Director Michael E. Jesanis sold 6,178 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the transaction, the director directly owned 18,541 shares in the company, valued at $701,035.21. This represents a 24.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Melanie B. Berman sold 6,227 shares of the 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 transaction, the executive vice president owned 28,882 shares in the company, valued at $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,405 shares of company stock valued at $631,939. Company insiders own 0.24% of the company's stock.

NiSource Trading Up 0.6%

Shares of NiSource stock traded up $0.26 during trading hours on Thursday, hitting $42.45. The company's stock had a trading volume of 1,225,792 shares, compared to its average volume of 4,515,434. NiSource, Inc has a 1-year low of $30.53 and a 1-year high of $42.90. The business has a fifty day moving average of $39.93 and a 200 day moving average of $39.23. The company has a market capitalization of $19.98 billion, a PE ratio of 22.94, a P/E/G ratio of 2.85 and a beta of 0.54. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. NiSource had a net margin of 14.67% and a return on equity of 8.41%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, equities analysts forecast that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Thursday, July 31st. NiSource's payout ratio is 60.54%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NI. Barclays upped their price target on shares of NiSource from $38.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Guggenheim upped their price objective on shares of NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price objective on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets upped their price objective on shares of NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $41.50.

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.