Strategic Investment Solutions Inc. IL Invests $103,000 in NiSource Inc. (NYSE:NI)

Strategic Investment Solutions Inc. IL acquired a new stake in shares of NiSource Inc. (NYSE:NI) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,675 shares of the utilities provider’s stock, valued at approximately $103,000.

A number of other hedge funds also recently bought and sold shares of NI. Allworth Financial LP boosted its position in shares of NiSource by 161.0% during the 1st quarter. Allworth Financial LP now owns 1,099 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 678 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of NiSource in the 1st quarter valued at approximately $33,000. Global Retirement Partners LLC increased its holdings in shares of NiSource by 897.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,197 shares of the utilities provider’s stock worth $34,000 after buying an additional 1,077 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of NiSource during the 1st quarter valued at approximately $36,000. Finally, Parkside Financial Bank & Trust grew its position in NiSource by 182.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,372 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 887 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

NiSource Stock Down 0.2 %

Shares of NI stock traded down $0.05 on Tuesday, reaching $27.03. 2,154,356 shares of the stock were exchanged, compared to its average volume of 3,795,121. NiSource Inc. has a twelve month low of $23.78 and a twelve month high of $30.42. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.43 and a beta of 0.48. The business’s 50 day moving average price is $27.12 and its 200 day moving average price is $27.45.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a net margin of 12.00% and a return on equity of 10.90%. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, sell-side analysts expect that NiSource Inc. will post 1.58 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 30th. This represents a $1.00 annualized dividend and a dividend yield of 3.70%. NiSource’s dividend payout ratio is presently 69.44%.

Insider Activity

In related news, CEO Lloyd M. Yates purchased 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $26.44 per share, with a total value of $1,057,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 131,242 shares in the company, valued at $3,470,038.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other NiSource news, EVP Donald Eugene Brown sold 14,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $26.64, for a total value of $372,960.00. Following the completion of the transaction, the executive vice president now owns 187,278 shares in the company, valued at $4,989,085.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lloyd M. Yates bought 40,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $26.44 per share, for a total transaction of $1,057,600.00. Following the completion of the transaction, the chief executive officer now directly owns 131,242 shares in the company, valued at approximately $3,470,038.48. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group raised shares of NiSource from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, June 6th. Guggenheim decreased their target price on NiSource from $31.00 to $30.00 in a research note on Friday, July 7th. Evercore ISI cut their price objective on NiSource from $31.00 to $30.00 in a research report on Wednesday, June 21st. Bank of America decreased their target price on NiSource from $32.00 to $31.00 in a report on Thursday, June 22nd. Finally, BMO Capital Markets cut their price target on NiSource from $31.00 to $30.00 in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

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 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.