Beck Bode LLC Raises Stock Position in NiSource Inc. (NYSE:NI)

Beck Bode LLC lifted its position in shares of NiSource Inc. (NYSE:NI) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,513 shares of the utilities provider’s stock after acquiring an additional 24,465 shares during the quarter. NiSource accounts for about 2.5% of Beck Bode LLC’s holdings, making the stock its 15th biggest position. Beck Bode LLC owned about 0.10% of NiSource worth $12,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in NiSource during the 2nd quarter valued at about $25,000. MCF Advisors LLC purchased a new position in shares of NiSource during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC acquired a new position in shares of NiSource during the 1st quarter worth approximately $31,000. First Financial Corp IN purchased a new stake in NiSource in the 1st quarter valued at approximately $31,000. Finally, Family Firm Inc. acquired a new stake in NiSource during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Stock Down 0.6 %

Shares of NI opened at $34.18 on Wednesday. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $34.49. The company’s fifty day moving average is $31.80 and its two-hundred day moving average is $29.30. The firm has a market cap of $15.32 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 3.25 and a beta of 0.51. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter last year, the firm earned $0.11 earnings per share. Analysts forecast that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 annualized dividend and a yield of 3.10%. NiSource’s payout ratio is 69.28%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays boosted their target price on shares of NiSource from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. BMO Capital Markets boosted their price objective on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Evercore ISI raised their target price on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America began coverage on NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. Finally, Mizuho began coverage on NiSource in a report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, NiSource presently has an average rating of “Moderate Buy” and an average target price of $32.43.

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.