Syntegra Private Wealth Group LLC Invests $220,000 in NiSource, Inc $NI

Syntegra Private Wealth Group LLC purchased a new stake in shares of NiSource, Inc (NYSE:NI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,442 shares of the utilities provider’s stock, valued at approximately $220,000.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of NiSource by 19.1% in the first quarter. GAMMA Investing LLC now owns 21,735 shares of the utilities provider’s stock valued at $871,000 after acquiring an additional 3,486 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in NiSource by 27.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,032 shares of the utilities provider’s stock valued at $2,006,000 after purchasing an additional 10,830 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in NiSource by 3.5% in the 1st quarter. State of Alaska Department of Revenue now owns 55,071 shares of the utilities provider’s stock worth $2,207,000 after buying an additional 1,855 shares during the period. Blue Trust Inc. grew its position in shares of NiSource by 16.2% in the 1st quarter. Blue Trust Inc. now owns 4,315 shares of the utilities provider’s stock worth $173,000 after buying an additional 601 shares during the last quarter. Finally, TrueMark Investments LLC purchased a new position in shares of NiSource during the first quarter valued at approximately $210,000. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NI shares. Zacks Research raised NiSource to a “hold” rating in a research note on Monday, August 11th. Barclays reaffirmed an “overweight” rating and set a $44.00 target price (up previously from $42.00) on shares of NiSource in a research note on Monday, August 4th. Weiss Ratings reissued a “buy (b)” rating on shares of NiSource in a research note on Wednesday, October 8th. Jefferies Financial Group cut NiSource from a “buy” rating to a “hold” rating and cut their price objective for the company from $48.00 to $44.00 in a research report on Friday, September 5th. Finally, Evercore ISI increased their target price on NiSource from $45.00 to $46.00 and gave the stock an “in-line” rating in a research report on Monday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

NiSource Stock Performance

NiSource stock opened at $43.89 on Tuesday. NiSource, Inc has a twelve month low of $34.23 and a twelve month high of $44.51. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $20.67 billion, a P/E ratio of 23.35, a PEG ratio of 3.19 and a beta of 0.60. The stock’s 50 day moving average is $42.13 and its 200 day moving average is $40.59.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business 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 last year, the business earned $0.21 EPS. On average, equities research analysts predict that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource’s dividend payout ratio (DPR) is 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.