Virtu Financial LLC Takes Position in NiSource, Inc (NYSE:NI)

Key Points

• Virtu Financial LLC has invested approximately $1.22 million to acquire 30,516 shares of NiSource, Inc during the first quarter, highlighting growing institutional interest in the company.
• NiSource reported an earnings per share (EPS) of $0.22 for the last quarter, beating analysts' expectations, and the company anticipates posting 1.91 EPS for the current fiscal year.
• Multiple analysts have recently upgraded their target prices for NiSource, with Wells Fargo raising it to $45.00, indicating a positive outlook for the stock amidst a consensus rating of "Moderate Buy."

Virtu Financial LLC purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 30,516 shares of the utilities provider's stock, valued at approximately $1,223,000.

A number of other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC increased its holdings in shares of NiSource by 1.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider's stock valued at $514,000 after acquiring an additional 256 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of NiSource by 48.8% in 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 last quarter. Resonant Capital Advisors LLC increased its holdings in shares of NiSource by 3.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,448 shares of the utilities provider's stock valued at $299,000 after acquiring an additional 277 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of NiSource by 4.2% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider's stock valued at $268,000 after acquiring an additional 291 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of NiSource by 64.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 299 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 value of $245,468.34. Following the completion of the transaction, the executive vice president owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NI shares. Barclays reiterated an "overweight" rating and issued a $44.00 price target (up from $42.00) on shares of NiSource in a report on Monday, August 4th. Guggenheim boosted their price target on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. BMO Capital Markets upped their price objective on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company upped their price objective on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.56.

NiSource Stock Performance

NI traded down $0.62 during trading on Friday, reaching $41.93. 3,727,156 shares of the company were exchanged, compared to its average volume of 4,366,566. The stock has a market cap of $19.74 billion, a P/E ratio of 22.30, a PEG ratio of 2.88 and a beta of 0.53. The firm has a 50 day moving average of $40.74 and a 200 day moving average of $39.65. 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, Inc has a 52 week low of $31.70 and a 52 week high of $43.51.

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 (EPS) 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 company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, sell-side analysts forecast that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.7%. NiSource's dividend payout ratio is presently 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.