Spirit of America Management Corp NY Buys 750 Shares of NiSource Inc. (NYSE:NI)

Spirit of America Management Corp NY lifted its stake in NiSource Inc. (NYSE:NI) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,750 shares of the utilities provider’s stock after acquiring an additional 750 shares during the quarter. Spirit of America Management Corp NY’s holdings in NiSource were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Zimmer Partners LP raised its stake in 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 buying an additional 5,290,322 shares during the last quarter. Bank of Montreal Can increased its position in NiSource by 68.1% during the second quarter. Bank of Montreal Can now owns 3,342,831 shares of the utilities provider’s stock valued at $96,407,000 after acquiring an additional 1,353,977 shares during the last quarter. Vaughan David Investments LLC IL bought a new position in NiSource in the first quarter valued at about $34,419,000. Vanguard Group Inc. grew its stake in shares of NiSource by 1.8% during the 1st 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. Finally, AQR Capital Management LLC boosted its holdings in shares of NiSource by 118.4% in the second quarter. AQR Capital Management LLC now owns 1,616,189 shares of the utilities provider’s stock worth $46,449,000 after buying an additional 876,033 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets upped their target price on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company raised their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America initiated coverage on NiSource in a report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. Mizuho assumed coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Barclays increased their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

NiSource Stock Down 0.2 %

NYSE NI opened at $35.26 on Friday. NiSource Inc. has a 12 month low of $24.58 and a 12 month high of $35.48. The company has a current ratio of 0.78, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market cap of $15.81 billion, a PE ratio of 21.63, a P/E/G ratio of 2.90 and a beta of 0.51. The stock’s 50 day moving average is $33.83 and its 200 day moving average is $30.72.

NiSource (NYSE:NI) last issued its 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. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same quarter in the prior year, the business earned $0.11 earnings per share. Research analysts predict that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The company 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 $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.01%. NiSource’s dividend payout ratio is currently 65.03%.

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.