Van ECK Associates Corp Purchases 39,698 Shares of NiSource Inc. (NYSE:NI)

Van ECK Associates Corp increased its holdings in shares of NiSource Inc. (NYSE:NI - Free Report) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 250,108 shares of the utilities provider's stock after purchasing an additional 39,698 shares during the period. Van ECK Associates Corp owned 0.06% of NiSource worth $6,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. First Financial Corp IN acquired a new stake in NiSource in the first quarter valued at approximately $31,000. McGlone Suttner Wealth Management Inc. purchased a new stake in NiSource during the 4th quarter worth $36,000. Lindbrook Capital LLC lifted its holdings in NiSource by 46.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider's stock worth $41,000 after buying an additional 491 shares in the last quarter. Principal Securities Inc. acquired a new position in NiSource in the 4th quarter worth $50,000. Finally, Quarry LP purchased a new position in NiSource in the 4th quarter valued at about $50,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

NYSE:NI traded down $0.10 during trading hours on Friday, reaching $28.54. 6,199,656 shares of the stock were exchanged, compared to its average volume of 3,881,572. NiSource Inc. has a 52 week low of $22.86 and a 52 week high of $29.44. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $12.79 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.79 and a beta of 0.50. The firm has a 50 day simple moving average of $28.55 and a 200-day simple moving average of $27.25.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same period last year, the business posted $0.77 earnings per share. As a group, sell-side analysts forecast that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be paid a $0.265 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.71%. NiSource's payout ratio is currently 69.28%.

Insider Activity

In related news, SVP Melanie B. Berman sold 3,742 shares of the business's stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total transaction of $104,626.32. Following the completion of the transaction, the senior vice president now owns 19,978 shares in the company, valued at approximately $558,584.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NI shares. Evercore ISI boosted their price target on NiSource from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, May 9th. Barclays increased their target price on NiSource from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Tuesday, May 14th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $31.00 price target on shares of NiSource in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.20.

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.