NiSource Inc. (NYSE:NI) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its position in NiSource Inc. (NYSE:NI - Free Report) by 67.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 48,080 shares of the utilities provider's stock after buying an additional 19,343 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in NiSource were worth $1,385,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NI. Raymond James & Associates raised its stake in shares of NiSource by 2.1% in the second quarter. Raymond James & Associates now owns 409,652 shares of the utilities provider's stock worth $11,802,000 after purchasing an additional 8,314 shares during the last quarter. TCW Group Inc. raised its stake in shares of NiSource by 59.4% in the second quarter. TCW Group Inc. now owns 1,391,983 shares of the utilities provider's stock worth $40,103,000 after purchasing an additional 518,873 shares during the last quarter. Gradient Investments LLC purchased a new position in shares of NiSource in the second quarter worth $109,000. Blue Trust Inc. raised its stake in shares of NiSource by 18.6% in the second quarter. Blue Trust Inc. now owns 3,493 shares of the utilities provider's stock worth $97,000 after purchasing an additional 547 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of NiSource by 55.2% in the second quarter. Wedge Capital Management L L P NC now owns 264,207 shares of the utilities provider's stock worth $7,612,000 after purchasing an additional 93,971 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

NYSE:NI traded up $0.02 during mid-day trading on Tuesday, hitting $32.15. 3,230,088 shares of the company traded hands, compared to its average volume of 4,236,193. The stock's fifty day moving average price is $30.03 and its 200-day moving average price is $28.29. NiSource Inc. has a one year low of $22.86 and a one year high of $32.38. 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 firm has a market cap of $14.41 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 9.56% and a net margin of 14.23%. During the same quarter in the previous year, the company posted $0.11 earnings per share. Research analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, October 31st. NiSource's dividend payout ratio (DPR) is 69.28%.

Analysts Set New Price Targets

Several brokerages recently commented on NI. Evercore ISI lifted their price objective on NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Mizuho began coverage on NiSource in a report on Thursday, July 11th. They issued an "outperform" rating and a $33.00 price objective for the company. Barclays lifted their price objective on NiSource from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. Finally, BMO Capital Markets lifted their price objective on NiSource from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Insider Transactions at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the business's stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $27.96, for a total value of $104,626.32. Following the sale, the senior vice president now directly owns 19,978 shares in the company, valued at $558,584.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company's stock.

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.