Kimelman & Baird LLC Makes New $504,000 Investment in NiSource Inc. (NYSE:NI)

Kimelman & Baird LLC purchased a new stake in NiSource Inc. (NYSE:NI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 17,500 shares of the utilities provider’s stock, valued at approximately $504,000.

A number of other institutional investors have also modified their holdings of the business. MCF Advisors LLC bought a new position in NiSource in the second quarter worth about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource in the 2nd quarter worth approximately $25,000. First Financial Corp IN bought a new stake in shares of NiSource in the 1st quarter worth approximately $31,000. Crewe Advisors LLC bought a new position in NiSource during the 1st quarter worth $31,000. Finally, Fidelis Capital Partners LLC acquired a new stake in NiSource in the first quarter worth $43,000. Institutional investors own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NI. Mizuho assumed coverage on shares of NiSource in a report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price target for the company. Bank of America began coverage on shares of NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price for the company. Barclays boosted their price objective on NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price target on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Evercore ISI lifted their price objective on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, NiSource currently has an average rating of “Moderate Buy” and an average price target of $32.43.

NiSource Trading Up 0.8 %

Shares of NI stock opened at $34.38 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30. The stock has a 50-day simple moving average of $32.56 and a 200 day simple moving average of $29.77. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $34.56. The stock has a market capitalization of $15.41 billion, a P/E ratio of 22.47, a P/E/G ratio of 2.86 and a beta of 0.51.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. NiSource had a net margin of 14.76% and a return on equity of 9.15%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $0.11 EPS. On average, sell-side analysts expect that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.08%. NiSource’s dividend payout ratio is currently 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.