Nuveen LLC Makes New $71.84 Million Investment in NiSource, Inc $NI

Key Points

• Nuveen LLC has acquired 1,791,946 shares of NiSource, Inc, with a total investment of approximately $71.8 million, reflecting a growing interest among institutional investors.
• Recent target price adjustments from analysts indicate a strong outlook for NiSource, with estimates rising to as high as $45.00 by Wells Fargo, while the stock maintains a consensus rating of "Moderate Buy".
• NiSource announced a quarterly dividend of $0.28 per share, representing an annualized dividend of $1.12 and a yield of 2.6%, scheduled for distribution on November 20th.

Nuveen LLC purchased a new position in NiSource, Inc (NYSE:NI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,791,946 shares of the utilities provider's stock, valued at approximately $71,839,000. Nuveen LLC owned about 0.38% of NiSource as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Millennium Management LLC lifted its position in NiSource by 185.0% in the 4th quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock worth $339,837,000 after buying an additional 6,001,486 shares in the last quarter. Capital International Investors bought a new stake in shares of NiSource during the 4th quarter worth $219,977,000. Vanguard Group Inc. grew its stake in NiSource by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock valued at $2,439,236,000 after buying an additional 3,050,420 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in NiSource by 10.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock worth $785,563,000 after acquiring an additional 1,965,334 shares during the period. Finally, Merewether Investment Management LP bought a new position in NiSource in the 4th quarter worth $47,389,000. 91.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction dated 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 directly owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NI. Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Barclays reaffirmed 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. Wells Fargo & Company increased their price objective on shares of NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Zacks Research raised NiSource to a "hold" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. lifted their price objective on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.56.

NiSource Stock Performance

NYSE NI traded down $0.19 on Monday, hitting $41.76. 677,738 shares of the stock were exchanged, compared to its average volume of 4,505,154. The business's fifty day moving average is $40.74 and its 200 day moving average is $39.68. NiSource, Inc has a 52 week low of $31.90 and a 52 week high of $43.51. The company has a market capitalization of $19.66 billion, a PE ratio of 22.23, a P/E/G ratio of 2.84 and a beta of 0.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48.

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

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's payout ratio is 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.