Sawtooth Solutions LLC grew its holdings in NiSource Inc. (NYSE:NI – Get Rating) by 28.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,837 shares of the utilities provider's stock after acquiring an additional 2,162 shares during the period. Sawtooth Solutions LLC's holdings in NiSource were worth $290,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NI. Rise Advisors LLC purchased a new stake in shares of NiSource in the 4th quarter valued at $32,000. Gradient Investments LLC acquired a new position in shares of NiSource in the 1st quarter valued at $32,000. Achmea Investment Management B.V. acquired a new position in shares of NiSource in the 1st quarter valued at $33,000. Parkside Financial Bank & Trust lifted its stake in shares of NiSource by 84.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,296 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 594 shares during the period. Finally, Elequin Capital LP acquired a new position in shares of NiSource in the 1st quarter valued at $41,000. 95.79% of the stock is owned by hedge funds and other institutional investors.
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NiSource Price Performance
Shares of NYSE NI opened at $25.19 on Friday. The firm has a 50-day simple moving average of $29.69 and a 200-day simple moving average of $29.94. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.50 and a beta of 0.38. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.59. NiSource Inc. has a 52 week low of $24.02 and a 52 week high of $32.58.
NiSource (NYSE:NI – Get Rating) last issued its earnings results on Wednesday, August 3rd. The utilities provider reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. NiSource had a net
margin of 13.07% and a return on equity of 10.57%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the business earned $0.13 earnings per share. On average, equities analysts predict that NiSource Inc. will post 1.44 earnings per share for the current fiscal year.
NiSource Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, October 28th. NiSource's dividend payout ratio is currently 61.04%.
Analysts Set New Price Targets
Several research firms recently issued reports on NI. Barclays decreased their target price on shares of NiSource from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, July 18th. Evercore ISI boosted their target price on shares of NiSource to $33.00 in a research note on Tuesday, August 9th. Edward Jones upgraded shares of NiSource from a "hold" rating to a "buy" rating in a research note on Wednesday, July 27th. Finally, BMO Capital Markets upped their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, August 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.29.
About NiSource
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NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.
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