Tokio Marine Asset Management Co. Ltd. Raises Stock Holdings in NiSource Inc. (NYSE:NI)

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of NiSource Inc. (NYSE:NIFree Report) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,111 shares of the utilities provider’s stock after acquiring an additional 624 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in NiSource were worth $390,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NI. TCW Group Inc. boosted its stake in shares of NiSource by 7.8% in the 4th quarter. TCW Group Inc. now owns 792,187 shares of the utilities provider’s stock worth $21,033,000 after buying an additional 57,498 shares during the last quarter. Oak Thistle LLC purchased a new position in NiSource in the fourth quarter worth about $1,049,000. HF Advisory Group LLC bought a new stake in shares of NiSource during the 4th quarter valued at about $1,559,000. Brookstone Capital Management purchased a new stake in shares of NiSource during the 1st quarter valued at about $9,686,000. Finally, Royal London Asset Management Ltd. increased its position in shares of NiSource by 19.2% during the 4th quarter. Royal London Asset Management Ltd. now owns 195,778 shares of the utilities provider’s stock valued at $5,198,000 after purchasing an additional 31,592 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

NiSource Price Performance

NYSE NI opened at $28.57 on Tuesday. 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 Inc. has a 12 month low of $22.86 and a 12 month high of $29.44. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.78 and a beta of 0.50. The company’s 50 day moving average is $28.56 and its two-hundred day moving average is $27.28.

NiSource (NYSE:NIGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $2.07 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, research analysts anticipate that NiSource Inc. will post 1.71 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, July 31st. NiSource’s dividend payout ratio is currently 69.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $31.00 price objective on shares of NiSource in a report on Tuesday, June 18th. Evercore ISI lifted their price target on shares of NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, Barclays boosted their price objective on shares of NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.20.

View Our Latest Report on NiSource

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the business’s stock in a transaction that occurred 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 directly owns 19,978 shares of the company’s stock, valued at approximately $558,584.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

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.

See Also

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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