Strs Ohio Buys Shares of 925,761 NiSource, Inc $NI

Key Points

• Strs Ohio acquired 925,761 shares of NiSource, Inc valued at approximately $37.1 million, bringing its ownership to about 0.20% of the company.
• NiSource reported an earnings per share (EPS) of $0.22 for the last quarter, exceeding analysts' expectations of $0.21, with a total revenue of $1.16 billion.
• The company announced a quarterly dividend of $0.28 per share, scheduled to be paid on November 20, representing an annualized yield of 2.7%.

Strs Ohio bought a new position in shares of NiSource, Inc (NYSE:NI - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 925,761 shares of the utilities provider's stock, valued at approximately $37,114,000. Strs Ohio owned 0.20% of NiSource at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of NiSource during the 1st quarter valued at about $105,000. Geneos Wealth Management Inc. lifted its stake in NiSource by 24.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 8,319 shares of the utilities provider's stock valued at $334,000 after acquiring an additional 1,615 shares in the last quarter. Intech Investment Management LLC increased its position in shares of NiSource by 122.8% during the 1st quarter. Intech Investment Management LLC now owns 131,081 shares of the utilities provider's stock worth $5,255,000 after purchasing an additional 72,260 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its position in shares of NiSource by 13.7% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 166,000 shares of the utilities provider's stock worth $6,655,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of NiSource during the 1st quarter worth approximately $103,000. Institutional investors own 91.64% of the company's stock.

NiSource Price Performance

Shares of NI stock traded down $0.44 on Monday, hitting $40.58. 4,361,228 shares of the company's stock were exchanged, compared to its average volume of 4,471,305. 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, Inc has a 12 month low of $33.32 and a 12 month high of $43.51. The stock has a market cap of $19.11 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 2.77 and a beta of 0.60. The company has a 50 day moving average of $41.54 and a 200 day moving average of $40.05.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data 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 return on equity of 8.25% and a net margin of 14.46%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $0.21 EPS. On average, equities research analysts predict 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 given a $0.28 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.12 annualized dividend and a yield of 2.8%. NiSource's dividend payout ratio (DPR) is currently 59.57%.

Analysts Set New Price Targets

Several research analysts have weighed in on NI shares. Zacks Research raised NiSource to a "hold" rating in a research report on Monday, August 11th. Jefferies Financial Group lowered NiSource from a "buy" rating to a "hold" rating and decreased their target price for the stock from $48.00 to $44.00 in a report on Friday, September 5th. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Barclays reissued an "overweight" rating and set a $44.00 target price (up from $42.00) on shares of NiSource in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, NiSource currently has an average rating of "Moderate Buy" and a consensus target price of $43.88.

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.