Quantinno Capital Management LP Raises Stock Position in NiSource Inc. (NYSE:NI)

Posted by Defense World Staff on Jul 30th, 2023

Quantinno Capital Management LP grew its holdings in NiSource Inc. (NYSE:NI – Free Report) by 36.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,194 shares of the utilities provider’s stock after purchasing an additional 7,463 shares during the quarter. Quantinno Capital Management LP’s holdings in NiSource were worth $788,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Brinker Capital Investments LLC grew its position in shares of NiSource by 2.4% in the first quarter. Brinker Capital Investments LLC now owns 18,197 shares of the utilities provider’s stock valued at $579,000 after purchasing an additional 426 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of NiSource by 67.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,075 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 434 shares during the last quarter. State of Michigan Retirement System grew its position in shares of NiSource by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 110,369 shares of the utilities provider’s stock valued at $3,026,000 after purchasing an additional 500 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of NiSource by 1.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,423 shares of the utilities provider’s stock valued at $879,000 after purchasing an additional 515 shares during the last quarter. Finally, Securian Asset Management Inc. grew its position in shares of NiSource by 1.6% in the fourth quarter. Securian Asset Management Inc. now owns 33,387 shares of the utilities provider’s stock valued at $915,000 after purchasing an additional 537 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kimberly S. Cuccia sold 11,157 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $28.54, for a total value of $318,420.78. Following the transaction, the senior vice president now owns 20,329 shares of the company’s stock, valued at approximately $580,189.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

NiSource Stock Up 0.1 %

Shares of NI opened at $27.75 on Friday. The firm has a market cap of $11.46 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 2.50 and a beta of 0.47. The company’s fifty day moving average is $27.39 and its two-hundred day moving average is $27.59. NiSource Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $31.87. The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 1.59.

NiSource (NYSE:NI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.94 billion. NiSource had a net margin of 11.72% and a return on equity of 11.14%. During the same quarter last year, the business earned $0.75 EPS. Analysts forecast that NiSource Inc. will post 1.59 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be issued a $0.25 dividend. The ex-dividend date is Friday, July 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. NiSource’s dividend payout ratio (DPR) is presently 68.03%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com assumed coverage on shares of NiSource in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Guggenheim decreased their target price on shares of NiSource from $31.00 to $30.00 in a research report on Friday, July 7th. Bank of America decreased their target price on shares of NiSource from $32.00 to $31.00 in a research report on Thursday, June 22nd. UBS Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Tuesday, June 6th. Finally, Evercore ISI decreased their target price on shares of NiSource from $31.00 to $30.00 in a research report on Wednesday, June 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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 through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.