214,524 Shares in NiSource Inc. (NYSE:NI) Purchased by Bfsg LLC

Bfsg LLC purchased a new stake in NiSource Inc. (NYSE:NI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 214,524 shares of the utilities provider’s stock, valued at approximately $5,696,000.

Several other hedge funds have also modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of NiSource in the fourth quarter worth approximately $36,000. Global Retirement Partners LLC grew its stake in NiSource by 41.4% in the third quarter. Global Retirement Partners LLC now owns 1,698 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 497 shares in the last quarter. Lindbrook Capital LLC increased its position in NiSource by 46.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 491 shares during the last quarter. Allworth Financial LP raised its stake in shares of NiSource by 82.5% during the 3rd quarter. Allworth Financial LP now owns 2,179 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 985 shares in the last quarter. Finally, Sentry Investment Management LLC bought a new position in NiSource in the third quarter worth $55,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Barclays increased their target price on NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 11,141 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the sale, the senior vice president now directly owns 23,720 shares in the company, valued at approximately $632,375.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

NiSource Price Performance

NI stock traded down $0.14 during trading on Thursday, hitting $28.04. 632,950 shares of the stock traded hands, compared to its average volume of 4,193,503. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.72 and a beta of 0.49. NiSource Inc. has a one year low of $22.86 and a one year high of $28.95. The company has a 50 day simple moving average of $26.88 and a 200 day simple moving average of $26.26.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). NiSource had a net margin of 12.98% and a return on equity of 10.10%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $0.50 earnings per share. Equities analysts expect that NiSource Inc. will post 1.71 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, April 29th. NiSource’s dividend payout ratio is presently 72.11%.

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.