ABC Arbitrage SA purchased a new position in NiSource, Inc (NYSE:NI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,385 shares of the utilities provider's stock, valued at approximately $737,000.
A number of other large investors also recently bought and sold shares of the business. World Investment Advisors grew its stake in shares of NiSource by 25.8% in the fourth quarter. World Investment Advisors now owns 8,247 shares of the utilities provider's stock worth $303,000 after acquiring an additional 1,689 shares during the last quarter. Wells Fargo & Company MN grew its position in NiSource by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 775,555 shares of the utilities provider's stock valued at $28,509,000 after purchasing an additional 77,484 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in NiSource during the 4th quarter valued at about $4,991,000. Federated Hermes Inc. raised its holdings in NiSource by 2.2% in the fourth quarter. Federated Hermes Inc. now owns 73,305 shares of the utilities provider's stock worth $2,695,000 after buying an additional 1,555 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock worth $301,427,000 after buying an additional 2,714,262 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
NiSource Trading Down 0.3%
Shares of NI stock traded down $0.11 during trading hours on Friday, reaching $42.26. 3,851,050 shares of the stock were exchanged, compared to its average volume of 4,466,903. The firm has a market capitalization of $19.89 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. NiSource, Inc has a 12-month low of $30.66 and a 12-month high of $43.51. The company's 50-day moving average price is $40.43 and its 200-day moving average price is $39.47. The company has a current ratio of 0.59, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32.
NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. NiSource had a return on equity of 8.25% and a net margin of 14.46%. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, equities analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current year.
NiSource Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is presently 60.54%.
Insider Activity at NiSource
In related news, Director Michael E. Jesanis sold 6,178 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the completion of the sale, the director owned 18,541 shares of the company's stock, valued at $701,035.21. This represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Melanie B. Berman sold 6,227 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president directly owned 28,882 shares in the company, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,405 shares of company stock worth $631,939. 0.24% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts have recently commented on NI shares. Wells Fargo & Company lifted their price target on shares of NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Barclays reaffirmed an "overweight" rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a research report on Monday. BMO Capital Markets increased their price target on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. lifted their price objective on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Guggenheim raised their target price on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, NiSource has an average rating of "Buy" and a consensus target price of $41.70.
View Our Latest Stock Report on NI
NiSource Company Profile
(
Free Report)
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.
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