Tortoise Index Solutions LLC Purchases 86,997 Shares of NiSource Inc. (NYSE:NI)

Tortoise Index Solutions LLC increased its stake in shares of NiSource Inc. (NYSE:NIFree Report) by 11.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 815,383 shares of the utilities provider’s stock after acquiring an additional 86,997 shares during the period. NiSource makes up approximately 4.0% of Tortoise Index Solutions LLC’s holdings, making the stock its 8th largest holding. Tortoise Index Solutions LLC’s holdings in NiSource were worth $21,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TCW Group Inc. lifted its position in NiSource by 7.8% during the 4th quarter. TCW Group Inc. now owns 792,187 shares of the utilities provider’s stock worth $21,033,000 after acquiring an additional 57,498 shares in the last quarter. Oak Thistle LLC purchased a new stake in NiSource during the 4th quarter worth approximately $1,049,000. HF Advisory Group LLC purchased a new stake in NiSource during the 4th quarter worth approximately $1,559,000. Victory Capital Management Inc. increased its holdings in shares of NiSource by 40.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,281,490 shares of the utilities provider’s stock valued at $34,024,000 after acquiring an additional 370,805 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of NiSource by 19.2% in 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 acquiring an additional 31,592 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on NI shares. StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. BMO Capital Markets restated an “outperform” rating and set a $31.00 price objective (up from $30.00) on shares of NiSource in a research note on Thursday, May 9th. Evercore ISI boosted their price target on NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Barclays boosted their price target on NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Read Our Latest Stock Report on NI

NiSource Price Performance

Shares of NiSource stock traded down $0.13 during trading on Tuesday, hitting $28.30. The stock had a trading volume of 1,211,871 shares, compared to its average volume of 4,266,391. 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 has a market cap of $12.69 billion, a P/E ratio of 18.58, a PEG ratio of 2.76 and a beta of 0.51. The business has a fifty day moving average of $28.13 and a two-hundred day moving average of $26.95. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $29.44.

NiSource (NYSE:NIGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The business 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 in the prior year, the firm posted $0.77 earnings per share. On average, sell-side analysts expect that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Wednesday, July 31st will be issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.06 annualized dividend and a dividend yield of 3.75%. NiSource’s dividend payout ratio (DPR) is 69.28%.

Insider Activity

In other news, SVP Melanie B. Berman sold 3,742 shares of the business’s 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 sale, the senior vice president now directly owns 19,978 shares of the company’s stock, valued at $558,584.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

About NiSource

(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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