Envestnet Portfolio Solutions Inc. Raises Stake in NiSource, Inc (NYSE:NI)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of NiSource, Inc (NYSE:NI) by 5.3% during the 1st quarter, Holdings Channel reports. The fund owned 215,182 shares of the utilities provider’s stock after buying an additional 10,738 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in NiSource were worth $8,627,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Canada Post Corp Registered Pension Plan acquired a new position in NiSource in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in NiSource by 64.2% in the first 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 period. Quent Capital LLC raised its position in NiSource by 44.7% in the first 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 period. Optiver Holding B.V. lifted its stake in shares of NiSource by 105.0% in 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 shares of NiSource in the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Transactions at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president now owns 28,882 shares of the company’s stock, valued at $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the sale, the director now directly owns 18,541 shares of the company’s stock, valued at $701,035.21. This trade represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NI has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of NiSource from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. UBS Group lifted their price target on shares of NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Guggenheim upped their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. BMO Capital Markets lifted their target price on shares of NiSource from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Wells Fargo & Company boosted their target price on NiSource from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, NiSource presently has an average rating of “Buy” and an average target price of $41.50.

NiSource Stock Performance

Shares of NI stock opened at $39.51 on Friday. The firm has a 50 day moving average of $39.20 and a two-hundred day moving average of $38.46. The stock has a market capitalization of $18.60 billion, a PE ratio of 21.35, a P/E/G ratio of 2.66 and a beta of 0.54. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. NiSource, Inc has a 52 week low of $28.27 and a 52 week high of $41.45.

NiSource (NYSE:NI) last released its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. NiSource had a return on equity of 8.41% and a net margin of 14.67%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business posted $0.85 earnings per share. On average, research analysts predict that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource’s dividend payout ratio is presently 60.54%.

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.