NiSource Inc. (NYSE:NI) Shares Purchased by TD Asset Management Inc

TD Asset Management Inc lifted its holdings in NiSource Inc. (NYSE:NI) by 8.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,865,926 shares of the utilities provider’s stock after purchasing an additional 144,197 shares during the quarter. TD Asset Management Inc owned about 0.42% of NiSource worth $53,757,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in shares of NiSource in the 1st quarter worth $31,000. First Financial Corp IN acquired a new stake in shares of NiSource in the 1st quarter worth $31,000. Family Firm Inc. acquired a new stake in shares of NiSource in the 2nd quarter worth $43,000. Fidelis Capital Partners LLC purchased a new position in NiSource in the 1st quarter worth $43,000. Finally, Principal Securities Inc. purchased a new position in NiSource in the 4th quarter worth $50,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NI shares. BMO Capital Markets raised their target price on NiSource from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Barclays raised their target price on NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Evercore ISI raised their target price on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Mizuho started coverage on NiSource in a research note on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

NiSource Stock Performance

NYSE NI opened at $33.20 on Friday. The stock has a 50-day simple moving average of $31.19 and a two-hundred day simple moving average of $28.93. The firm has a market capitalization of $14.88 billion, a P/E ratio of 21.70, a PEG ratio of 3.20 and a beta of 0.50. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $33.56. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.78.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter last year, the business posted $0.11 EPS. On average, equities analysts forecast that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be paid a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.19%. NiSource’s dividend payout ratio 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.