JFS Wealth Advisors LLC Increases Position in NiSource Inc. (NYSE:NI)

JFS Wealth Advisors LLC increased its holdings in shares of NiSource Inc. (NYSE:NI) by 423.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,550 shares of the utilities provider’s stock after buying an additional 1,254 shares during the quarter. JFS Wealth Advisors LLC’s holdings in NiSource were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new position in NiSource during the 2nd quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new position in NiSource during the 2nd quarter worth $25,000. Crewe Advisors LLC acquired a new stake in NiSource during the 1st quarter worth about $31,000. Fidelis Capital Partners LLC acquired a new stake in NiSource during the 1st quarter worth about $43,000. Finally, Family Firm Inc. acquired a new stake in NiSource during the 2nd quarter worth about $43,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Price Performance

Shares of NiSource stock opened at $34.49 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. NiSource Inc. has a twelve month low of $24.58 and a twelve month high of $35.48. The business has a 50-day moving average price of $34.14 and a 200 day moving average price of $31.03. The firm has a market cap of $15.47 billion, a PE ratio of 20.90, a P/E/G ratio of 2.92 and a beta of 0.51.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $986.00 million. During the same quarter in the previous year, the business earned $0.19 EPS. NiSource’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts predict that NiSource Inc. will post 1.73 earnings per share for the current fiscal year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.07%. NiSource’s dividend payout ratio is presently 64.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NI. Jefferies Financial Group began coverage on NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price target for the company. JPMorgan Chase & Co. lifted their price target on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America initiated coverage on NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. Finally, Mizuho boosted their price objective on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, NiSource presently has an average rating of “Moderate Buy” and a consensus price target of $37.50.

NiSource Company 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.