Bahl & Gaynor Inc. Invests $1.38 Million in NiSource Inc. (NI) Stock

Bahl & Gaynor Inc. purchased a new position in NiSource Inc. (NYSE:NI) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 57,790 shares of the utilities provider’s stock, valued at approximately $1,382,000.

Other large investors also recently bought and sold shares of the company. Optimum Investment Advisors bought a new position in NiSource during the first quarter worth about $121,000. Peapack Gladstone Financial Corp bought a new position in NiSource during the first quarter worth about $210,000. McKinley Carter Wealth Services Inc. bought a new position in NiSource during the fourth quarter worth about $297,000. FDx Advisors Inc. lifted its holdings in NiSource by 25.4% during the fourth quarter. FDx Advisors Inc. now owns 11,615 shares of the utilities provider’s stock worth $298,000 after acquiring an additional 2,353 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in NiSource by 26.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 13,518 shares of the utilities provider’s stock worth $347,000 after acquiring an additional 2,839 shares in the last quarter. Institutional investors and hedge funds own 89.18% of the company’s stock.

NI opened at $23.99 on Friday. NiSource Inc. has a 1 year low of $22.44 and a 1 year high of $27.76. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 3.30 and a beta of 0.28. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.43 and a current ratio of 0.51.



NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.66 billion. NiSource had a return on equity of 9.85% and a net margin of 3.85%. During the same quarter last year, the business posted $0.71 EPS. analysts expect that NiSource Inc. will post 1.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Tuesday, July 31st will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, July 30th. NiSource’s dividend payout ratio is currently 64.46%.

Several research analysts have weighed in on the company. ValuEngine lowered NiSource from a “hold” rating to a “sell” rating in a report on Wednesday, June 6th. JPMorgan Chase & Co. upgraded NiSource from a “neutral” rating to an “overweight” rating in a report on Thursday, May 31st. Bank of America reiterated a “buy” rating and set a $28.00 target price on shares of NiSource in a report on Monday, May 7th. Credit Suisse Group lifted their target price on NiSource to $27.00 and gave the stock an “outperform” rating in a report on Monday, May 7th. Finally, TheStreet raised NiSource from a “c” rating to a “b” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. NiSource currently has a consensus rating of “Buy” and an average price target of $26.50.

In related news, VP Teresa M. Smith sold 15,748 shares of NiSource stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $25.35, for a total value of $399,211.80. Following the sale, the vice president now owns 11,873 shares of the company’s stock, valued at $300,980.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Pablo Vegas bought 14,500 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was bought at an average cost of $25.02 per share, for a total transaction of $362,790.00. Following the transaction, the executive vice president now owns 44,049 shares of the company’s stock, valued at approximately $1,102,105.98. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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