Vanguard Group Inc. Acquires 3,050,420 Shares of NiSource, Inc (NYSE:NI)

Key Points

• Vanguard Group Inc. increased its stake in NiSource, Inc. by 5.3%, acquiring an additional 3,050,420 shares and now holds approximately 12.93% of the company valued at $2.44 billion.
• NiSource recently reported earnings of $0.22 per share, exceeding analysts' expectations, and declared a quarterly dividend of $0.28 per share, reflecting an annual yield of 2.7%.
• Several analysts have upgraded their price targets for NiSource, with Barclays setting a new target of $44.00 while maintaining an "overweight" rating on the stock.

Vanguard Group Inc. lifted its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 60,844,001 shares of the utilities provider's stock after purchasing an additional 3,050,420 shares during the period. Vanguard Group Inc. owned about 12.93% of NiSource worth $2,439,236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canada Post Corp Registered Pension Plan purchased a new stake in NiSource during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its position in 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 buying an additional 299 shares during the period. Larson Financial Group LLC boosted its position in 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 buying an additional 266 shares during the period. Quent Capital LLC boosted its position in 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 buying an additional 310 shares during the period. Finally, Optiver Holding B.V. boosted its position in 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 buying an additional 656 shares during the period. Institutional investors own 91.64% of the company's stock.

NiSource Trading Down 0.3%

Shares of NI opened at $42.26 on Friday. The firm's 50-day moving average price is $40.43 and its 200-day moving average price is $39.47. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.86 and a beta of 0.53. The company has a current ratio of 0.59, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32. NiSource, Inc has a 1-year low of $30.66 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 (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the company posted $0.21 EPS. Sell-side analysts anticipate that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 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 Thursday, July 31st. NiSource's dividend payout ratio (DPR) is 60.54%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NI shares. Barclays reissued an "overweight" rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. JPMorgan Chase & Co. increased their price target on shares of NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Guggenheim lifted their target price 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. Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Wells Fargo & Company lifted their target price 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. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, NiSource presently has a consensus rating of "Moderate Buy" and an average price target of $42.56.

Insider Transactions at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of NiSource 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 completion of the transaction, the executive vice president directly owned 28,882 shares of the company's stock, valued at $1,138,528.44. This trade represents a 17.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction dated 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 of the company's stock, valued at approximately $701,035.21. This trade represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is currently owned by corporate insiders.

NiSource Company 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.

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