Sage Mountain Advisors LLC Purchases 3,080 Shares of NiSource, Inc $NI

Sage Mountain Advisors LLC boosted its position in NiSource, Inc (NYSE:NI) by 54.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,784 shares of the utilities provider’s stock after acquiring an additional 3,080 shares during the quarter. Sage Mountain Advisors LLC’s holdings in NiSource were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NI. LPL Financial LLC increased its position in shares of NiSource by 29.9% during the 1st quarter. LPL Financial LLC now owns 234,234 shares of the utilities provider’s stock valued at $9,390,000 after purchasing an additional 53,972 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NiSource by 90.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,394 shares of the utilities provider’s stock valued at $3,223,000 after buying an additional 38,237 shares in the last quarter. Lincoln Capital Corp purchased a new position in shares of NiSource during the 1st quarter valued at about $2,556,000. Allspring Global Investments Holdings LLC raised its holdings in shares of NiSource by 179.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 60,375 shares of the utilities provider’s stock valued at $2,419,000 after buying an additional 38,760 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of NiSource during the 1st quarter valued at about $710,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Down 0.4%

Shares of NYSE:NI opened at $43.69 on Monday. NiSource, Inc has a 1 year low of $34.23 and a 1 year high of $44.51. The company has a market cap of $20.57 billion, a PE ratio of 23.24, a P/E/G ratio of 3.22 and a beta of 0.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48. The stock’s 50-day moving average is $42.24 and its 200 day moving average is $40.77.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. NiSource had a return on equity of 8.25% and a net margin of 14.46%.The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $0.21 EPS. Sell-side analysts anticipate that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource’s dividend payout ratio is currently 59.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NI shares. Evercore ISI raised their price objective on NiSource from $45.00 to $46.00 and gave the company an “in-line” rating in a report on Monday, October 20th. BMO Capital Markets raised their price objective on NiSource from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Zacks Research raised NiSource to a “hold” rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NiSource in a research note on Saturday. Finally, Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.78.

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.