Invst LLC Takes Position in NiSource Inc. (NYSE:NI)

Invst LLC purchased a new stake in NiSource Inc. (NYSE:NI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,292 shares of the utilities provider’s stock, valued at approximately $200,000.

A number of other large investors also recently modified their holdings of NI. Lindbrook Capital LLC increased its holdings in NiSource by 23.8% in the first quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 369 shares during the period. Beacon Pointe Advisors LLC grew its stake in shares of NiSource by 3.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider’s stock valued at $350,000 after buying an additional 405 shares during the period. Sound Income Strategies LLC grew its stake in shares of NiSource by 11.1% in the 1st quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock valued at $124,000 after buying an additional 449 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of NiSource by 7.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider’s stock valued at $164,000 after buying an additional 451 shares during the period. Finally, Blue Trust Inc. lifted its position in NiSource by 16.7% in the 4th quarter. Blue Trust Inc. now owns 3,228 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 463 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

NiSource Price Performance

Shares of NiSource stock traded up $0.05 during trading on Friday, hitting $31.81. The stock had a trading volume of 5,209,754 shares, compared to its average volume of 3,685,754. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 3.07 and a beta of 0.50. NiSource Inc. has a 12 month low of $22.86 and a 12 month high of $32.38. The business’s 50-day moving average is $29.28 and its 200 day moving average is $27.78. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20.

NiSource (NYSE:NI) last released its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.07 billion. NiSource had a return on equity of 9.56% and a net margin of 14.23%. During the same quarter in the prior year, the firm earned $0.77 earnings per share. As a group, sell-side analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.33%. NiSource’s dividend payout ratio is presently 69.28%.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total value of $104,626.32. Following the transaction, the senior vice president now owns 19,978 shares of the company’s stock, valued at $558,584.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NI shares. Barclays raised their price target on shares of NiSource from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI upped their price objective on NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Mizuho started coverage on NiSource in a research note on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on shares of NiSource from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NiSource presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.