NiSource Inc. (NYSE:NI) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its position in shares of NiSource Inc. (NYSE:NI) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,409 shares of the utilities provider’s stock after acquiring an additional 20,388 shares during the quarter. Amalgamated Bank’s holdings in NiSource were worth $3,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of NiSource by 1.8% in the first quarter. Vanguard Group Inc. now owns 54,946,594 shares of the utilities provider’s stock valued at $1,519,823,000 after purchasing an additional 991,336 shares during the period. Zimmer Partners LP lifted its position in shares of NiSource by 146.2% during the 1st quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock valued at $246,388,000 after acquiring an additional 5,290,322 shares during the period. Cohen & Steers Inc. lifted its position in shares of NiSource by 6.6% during the 4th quarter. Cohen & Steers Inc. now owns 7,272,420 shares of the utilities provider’s stock valued at $193,083,000 after acquiring an additional 450,818 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of NiSource by 123.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 5,593,854 shares of the utilities provider’s stock worth $148,517,000 after acquiring an additional 3,092,138 shares in the last quarter. Finally, Maple Brown Abbott Ltd increased its stake in NiSource by 23.5% in the 1st quarter. Maple Brown Abbott Ltd now owns 3,442,513 shares of the utilities provider’s stock valued at $95,220,000 after purchasing an additional 656,060 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NI. Barclays lifted their price target on NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Bank of America started coverage on NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective for the company. BMO Capital Markets increased their target price on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Mizuho initiated coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price target for the company. Finally, Evercore ISI upped their price objective on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

NiSource Trading Up 0.7 %

Shares of NiSource stock opened at $34.08 on Monday. The business’s fifty day moving average is $32.17 and its two-hundred day moving average is $29.51. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $34.49. The firm has a market cap of $15.28 billion, a PE ratio of 22.27, a P/E/G 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 posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. NiSource had a net margin of 14.76% and a return on equity of 9.15%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.11 earnings per share. Analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource’s dividend payout ratio (DPR) is presently 69.28%.

NiSource 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.