AlphaQuest LLC Takes Position in NiSource, Inc $NI

AlphaQuest LLC bought a new stake in NiSource, Inc (NYSE:NI) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 42,872 shares of the utilities provider’s stock, valued at approximately $1,719,000.

A number of other hedge funds have also added to or reduced their stakes in NI. MassMutual Private Wealth & Trust FSB boosted its stake in NiSource by 64.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 299 shares during the last quarter. Larson Financial Group LLC boosted its stake in NiSource by 48.8% during the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 266 shares during the last quarter. Quent Capital LLC boosted its stake in NiSource by 44.7% during the 1st quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 310 shares during the last quarter. Optiver Holding B.V. boosted its stake in NiSource by 105.0% during the 4th quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 656 shares during the last quarter. Finally, Bellwether Advisors LLC acquired a new position in NiSource during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Trading Up 1.4%

NYSE:NI opened at $42.8950 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $20.20 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The firm’s 50 day moving average is $41.02 and its 200 day moving average is $39.82. NiSource, Inc has a 12 month low of $32.51 and a 12 month high of $43.51.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same quarter in the previous year, the firm posted $0.21 EPS. Sell-side analysts expect that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be issued 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 of this dividend is Friday, October 31st. NiSource’s payout ratio is 59.57%.

Insider Activity at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the sale, the executive vice president owned 28,882 shares of the company’s stock, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NI shares. Wells Fargo & Company lifted their price target on NiSource from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Guggenheim lifted their price target on NiSource from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Wall Street Zen downgraded NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Barclays reissued an “overweight” rating and set a $44.00 target price (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Finally, BMO Capital Markets lifted their target price on shares of NiSource from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.56.

About NiSource

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.