NiSource Inc. (NYSE:NI) Stock Position Raised by First Trust Advisors LP

Posted by on Mar 11th, 2023

First Trust Advisors LP lifted its position in NiSource Inc. (NYSE:NI – Get Rating) by 47.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 621,155 shares of the utilities provider’s stock after acquiring an additional 199,590 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of NiSource worth $15,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NI. Private Advisor Group LLC lifted its position in shares of NiSource by 16.3% in the 1st quarter. Private Advisor Group LLC now owns 18,625 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 2,614 shares in the last quarter. MetLife Investment Management LLC increased its stake in NiSource by 23.1% in the 1st quarter. MetLife Investment Management LLC now owns 106,827 shares of the utilities provider’s stock valued at $3,397,000 after buying an additional 20,064 shares during the period. Cibc World Market Inc. increased its stake in NiSource by 66.2% in the 1st quarter. Cibc World Market Inc. now owns 146,548 shares of the utilities provider’s stock valued at $4,660,000 after buying an additional 58,398 shares during the period. Dimensional Fund Advisors LP increased its stake in NiSource by 29.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,952,676 shares of the utilities provider’s stock valued at $62,093,000 after buying an additional 447,102 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in NiSource in the 1st quarter valued at approximately $472,000. Hedge funds and other institutional investors own 92.58% of the company’s stock.

NiSource Stock Performance

Shares of NI opened at $26.71 on Friday. The company’s fifty day moving average is $27.37 and its 200-day moving average is $27.25. NiSource Inc. has a 12 month low of $23.78 and a 12 month high of $32.58. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.61 and a beta of 0.46. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

NiSource (NYSE:NI – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. NiSource had a net margin of 13.51% and a return on equity of 11.13%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business posted $0.39 EPS. Equities analysts expect that NiSource Inc. will post 1.56 EPS for the current fiscal year.

NiSource Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Tuesday, February 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 6th. This is a positive change from NiSource’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.74%. NiSource’s dividend payout ratio (DPR) is presently 58.82%.

Analysts Set New Price Targets

Several research analysts have weighed in on NI shares. Evercore ISI dropped their price objective on shares of NiSource to $27.00 in a research note on Tuesday, November 15th. BMO Capital Markets upped their price objective on shares of NiSource from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Finally, Wells Fargo & Company upped their price objective on shares of NiSource to $31.00 in a research note on Wednesday, December 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

NiSource Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource Inc. (NYSE:NI – Get Rating).

Institutional Ownership by Quarter for NiSource (NYSE:NI)

Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.