NiSource Inc. (NYSE:NI) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of NiSource Inc. (NYSE:NI) by 16.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,191 shares of the utilities provider’s stock after purchasing an additional 46,973 shares during the quarter. OLD National Bancorp IN owned 0.07% of NiSource worth $9,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NI. First Financial Corp IN acquired a new position in NiSource in the first quarter worth about $31,000. Crewe Advisors LLC acquired a new position in shares of NiSource in the 1st quarter worth approximately $31,000. Lindbrook Capital LLC raised its position in shares of NiSource by 46.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 491 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of NiSource during the 1st quarter valued at approximately $43,000. Finally, Principal Securities Inc. bought a new position in NiSource during the fourth quarter worth $50,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Melanie B. Berman sold 3,742 shares of NiSource stock in a transaction on Thursday, May 30th. The shares were 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 in the company, valued at approximately $558,584.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

NI has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on NiSource from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Barclays lifted their price objective 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. Mizuho started coverage on shares of NiSource in a research note on Thursday, July 11th. They set an “outperform” rating and a $33.00 target price for the company. Finally, Evercore ISI raised their price target on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.83.

NiSource Stock Up 1.0 %

NiSource stock traded up $0.30 during mid-day trading on Friday, hitting $31.35. The company’s stock had a trading volume of 3,847,323 shares, compared to its average volume of 4,260,353. The company has a market cap of $14.05 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. NiSource Inc. has a 52-week low of $22.86 and a 52-week high of $32.38. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56. The firm’s 50 day moving average is $29.57 and its 200 day moving average is $27.97.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. NiSource had a net margin of 14.23% and a return on equity of 9.56%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $0.11 earnings per share. On average, analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, July 31st. NiSource’s payout ratio is 69.28%.

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.