Quadrature Capital Ltd Invests $1.67 Million in NiSource Inc. (NYSE:NI)

Quadrature Capital Ltd bought a new stake in shares of NiSource Inc. (NYSE:NIFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 62,903 shares of the utilities provider’s stock, valued at approximately $1,670,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its stake in NiSource by 27.3% during the fourth quarter. Franklin Resources Inc. now owns 8,525,528 shares of the utilities provider’s stock valued at $226,353,000 after buying an additional 1,826,202 shares during the last quarter. Invesco Ltd. increased its stake in shares of NiSource by 4.2% in the 3rd quarter. Invesco Ltd. now owns 8,101,773 shares of the utilities provider’s stock worth $199,952,000 after purchasing an additional 326,999 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of NiSource by 8.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 4,336,801 shares of the utilities provider’s stock worth $115,142,000 after buying an additional 322,360 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in NiSource by 4.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 4,094,510 shares of the utilities provider’s stock valued at $108,709,000 after purchasing an additional 192,680 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of NiSource by 3.7% during the 3rd quarter. Northern Trust Corp now owns 3,930,342 shares of the utilities provider’s stock valued at $97,001,000 after buying an additional 138,984 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity at NiSource

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays increased their target price on NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. StockNews.com upgraded shares of NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Evercore ISI upped their target price on shares of NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $31.00 target price (up from $30.00) on shares of NiSource in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.50.

View Our Latest Analysis on NiSource

NiSource Trading Down 0.9 %

Shares of NI opened at $28.28 on Monday. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $29.44. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.56 and a current ratio of 0.66. The company’s fifty day moving average is $28.13 and its 200 day moving average is $26.95. The stock has a market capitalization of $12.68 billion, a PE ratio of 18.48, a P/E/G ratio of 2.76 and a beta of 0.51.

NiSource (NYSE:NIGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $2.07 billion. NiSource had a return on equity of 9.56% and a net margin of 14.23%. During the same quarter last year, the business posted $0.77 earnings per share. Sell-side analysts expect that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, July 30th. NiSource’s dividend payout ratio is currently 69.28%.

NiSource Company Profile

(Free Report)

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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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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