Northwest & Ethical Investments L.P. Grows Holdings in NiSource, Inc $NI

Key Points

• Northwest & Ethical Investments L.P. increased its stake in NiSource, Inc. by 198.5% in the first quarter, now holding shares worth $675,000.
• NiSource recently announced a quarterly dividend of $0.28 per share, representing a dividend yield of 2.6%, set to be paid on November 20th.
• Analysts have raised their target price for NiSource, with many giving it a "buy" rating, reflecting positive sentiment toward the company's growth potential.

Northwest & Ethical Investments L.P. raised its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 198.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,862 shares of the utilities provider's stock after purchasing an additional 11,214 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in NiSource were worth $675,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NI. MassMutual Private Wealth & Trust FSB grew its stake 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 purchasing an additional 299 shares during the period. 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 valued at $33,000 after acquiring an additional 266 shares during the period. Quent Capital LLC grew its stake 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 acquiring an additional 310 shares during the period. Optiver Holding B.V. grew its stake 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 acquiring an additional 656 shares during the period. Finally, Bellwether Advisors LLC bought a new position in shares of NiSource during the 4th quarter valued at approximately $55,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Trading Up 1.4%

NYSE:NI traded up $0.6050 during midday trading on Friday, hitting $42.8950. 3,793,711 shares of the company traded hands, compared to its average volume of 3,984,127. The firm's fifty day moving average is $41.02 and its 200-day moving average is $39.82. NiSource, Inc has a 12-month low of $32.51 and a 12-month high of $43.51. The firm has a market capitalization of $20.20 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.86 and a beta of 0.53. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32.

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

NiSource Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Melanie B. Berman sold 6,227 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total transaction of $245,468.34. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

NI has been the subject of a number of recent research reports. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. BMO Capital Markets boosted their price objective on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Guggenheim boosted their price objective on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Finally, Barclays reiterated an "overweight" rating and set a $44.00 price objective (up from $42.00) on shares of NiSource in a research note on Monday, August 4th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.