NiSource, Inc $NI Stock Position Raised by Shell Asset Management Co.

Shell Asset Management Co. lifted its holdings in shares of NiSource, Inc (NYSE:NI) by 114.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,420 shares of the utilities provider’s stock after buying an additional 32,207 shares during the period. Shell Asset Management Co.’s holdings in NiSource were worth $2,437,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of NiSource during the 2nd quarter valued at about $32,000. Larson Financial Group LLC grew its position in shares of NiSource by 48.8% during the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider’s stock valued at $33,000 after buying an additional 266 shares during the last quarter. Brooklyn Investment Group grew its position in shares of NiSource by 57.3% during the 1st quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider’s stock valued at $55,000 after buying an additional 499 shares during the last quarter. Hemington Wealth Management grew its position in shares of NiSource by 39.4% during the 1st quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider’s stock valued at $62,000 after buying an additional 438 shares during the last quarter. Finally, Rossby Financial LCC acquired a new position in NiSource during the 1st quarter valued at about $69,000. Institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group cut shares of NiSource from a “buy” rating to a “hold” rating and decreased their target price for the stock from $48.00 to $44.00 in a research report on Friday, September 5th. Barclays restated an “overweight” rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Evercore ISI assumed coverage on shares of NiSource in a research report on Monday. They issued an “in-line” rating and a $45.00 target price for the company. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded shares of NiSource to a “hold” rating in a research report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, NiSource currently has an average rating of “Moderate Buy” and a consensus target price of $44.44.

NiSource Trading Up 0.7%

Shares of NYSE:NI opened at $43.90 on Thursday. The company has a 50 day moving average of $42.02 and a 200-day moving average of $40.38. The firm has a market cap of $20.67 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.95 and a beta of 0.60. NiSource, Inc has a twelve month low of $33.65 and a twelve month high of $44.51. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same period in the prior year, the business posted $0.21 EPS. As a group, analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.12 annualized dividend and a yield of 2.6%. NiSource’s dividend payout ratio is currently 59.57%.

NiSource Company 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.