Syntegra Private Wealth Group LLC Acquires New Shares in NiSource, Inc $NI

Syntegra Private Wealth Group LLC purchased a new position in NiSource, Inc (NYSE:NI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,442 shares of the utilities provider’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crumly & Associates Inc. boosted its stake in NiSource by 1.5% in the 2nd quarter. Crumly & Associates Inc. now owns 18,274 shares of the utilities provider’s stock worth $737,000 after purchasing an additional 265 shares during the period. Larson Financial Group LLC lifted its holdings in shares of NiSource by 48.8% in the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider’s stock worth $33,000 after buying an additional 266 shares in the last quarter. Signaturefd LLC boosted its position in shares of NiSource by 3.9% in the second quarter. Signaturefd LLC now owns 7,167 shares of the utilities provider’s stock valued at $289,000 after acquiring an additional 272 shares during the period. Resonant Capital Advisors LLC grew its stake in NiSource by 3.9% during the first quarter. Resonant Capital Advisors LLC now owns 7,448 shares of the utilities provider’s stock valued at $299,000 after acquiring an additional 277 shares in the last quarter. Finally, Capital Analysts LLC increased its holdings in NiSource by 0.6% during the 1st quarter. Capital Analysts LLC now owns 50,416 shares of the utilities provider’s stock worth $2,021,000 after acquiring an additional 283 shares during the period. 91.64% of the stock is currently owned by institutional investors.

NiSource Price Performance

NI opened at $43.89 on Tuesday. 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 $20.67 billion, a P/E ratio of 23.35, a PEG ratio of 3.19 and a beta of 0.60. The stock has a 50-day moving average price of $42.13 and a 200-day moving average price of $40.59. NiSource, Inc has a 12-month low of $34.23 and a 12-month high of $44.51.

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

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.28 per share. 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 dividend payout ratio (DPR) is 59.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a research report on Wednesday, October 8th. BMO Capital Markets boosted their target price on NiSource from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Barclays reiterated an “overweight” rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Finally, Zacks Research raised NiSource to a “hold” rating in a report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $44.56.

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.