NiSource Inc. (NYSE:NI) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in NiSource Inc. (NYSE:NIFree Report) by 18.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,176 shares of the utilities provider’s stock after buying an additional 3,723 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NiSource were worth $669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of NiSource by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 53,955,258 shares of the utilities provider’s stock worth $1,432,512,000 after purchasing an additional 1,850,842 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of NiSource by 27.3% during the fourth quarter. Franklin Resources Inc. now owns 8,525,528 shares of the utilities provider’s stock worth $226,353,000 after purchasing an additional 1,826,202 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in shares of NiSource by 6.6% during the fourth quarter. Cohen & Steers Inc. now owns 7,272,420 shares of the utilities provider’s stock worth $193,083,000 after purchasing an additional 450,818 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of NiSource by 123.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 5,593,854 shares of the utilities provider’s stock worth $148,517,000 after purchasing an additional 3,092,138 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of NiSource by 8.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 4,336,801 shares of the utilities provider’s stock worth $115,142,000 after purchasing an additional 322,360 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Analysis on NI

Insider Buying and Selling

In other news, SVP Melanie B. Berman sold 3,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were 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 owns 19,978 shares of the company’s stock, valued at $558,584.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

NiSource Stock Performance

Shares of NYSE:NI opened at $28.91 on Wednesday. The company has a market cap of $12.96 billion, a P/E ratio of 18.90, a PEG ratio of 2.78 and a beta of 0.50. NiSource Inc. has a one year low of $22.86 and a one year high of $29.44. The business’s 50-day simple moving average is $28.58 and its 200 day simple moving average is $27.30. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.56 and a current ratio of 0.66.

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

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Wednesday, July 31st. NiSource’s payout ratio is 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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