TD Asset Management Inc Buys 144,197 Shares of NiSource Inc. (NYSE:NI)

TD Asset Management Inc increased its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,865,926 shares of the utilities provider's stock after buying an additional 144,197 shares during the quarter. TD Asset Management Inc owned 0.42% of NiSource worth $53,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its holdings in shares of NiSource by 7.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider's stock worth $164,000 after buying an additional 451 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NiSource by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,494,541 shares of the utilities provider's stock worth $92,780,000 after purchasing an additional 82,957 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of NiSource during the fourth quarter worth $50,000. Principal Street Partners LLC acquired a new stake in shares of NiSource in the fourth quarter valued at $218,000. Finally, BNP Paribas Financial Markets lifted its position in NiSource by 77.0% during the 4th quarter. BNP Paribas Financial Markets now owns 389,741 shares of the utilities provider's stock worth $10,348,000 after buying an additional 169,532 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

NiSource Stock Performance

Shares of NI traded down $0.20 during trading hours on Friday, hitting $33.20. The company had a trading volume of 3,197,307 shares, compared to its average volume of 4,234,305. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 3.20 and a beta of 0.50. 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 business has a fifty day moving average of $31.19 and a 200-day moving average of $28.95. NiSource Inc. has a 12 month low of $22.86 and a 12 month high of $33.56.

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. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.11 EPS. Equities analysts anticipate that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource's payout ratio is presently 69.28%.

Wall Street Analysts Forecast Growth

NI has been the topic of several recent research reports. BMO Capital Markets raised their target price on shares of NiSource from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, July 16th. Mizuho initiated coverage on NiSource in a report on Thursday, July 11th. They issued an "outperform" rating and a $33.00 price target for the company. Evercore ISI increased their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, Barclays lifted their price target on NiSource from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NiSource presently has an average rating of "Moderate Buy" and an average target price of $31.00.

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.