Zimmer Partners LP decreased its holdings in NiSource Inc. (NYSE:NI - Free Report) by 95.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 301,464 shares of the utilities provider's stock after selling 6,269,590 shares during the period. Zimmer Partners LP owned approximately 0.06% of NiSource worth $11,082,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of NI. Vennlight Capital Management LP bought a new stake in NiSource during the 4th quarter worth $9,631,000. Vident Advisory LLC acquired a new position in NiSource during the 4th quarter worth about $212,000. Virtus Investment Advisers Inc. lifted its holdings in NiSource by 76.6% during the 4th quarter. Virtus Investment Advisers Inc. now owns 24,757 shares of the utilities provider's stock worth $910,000 after buying an additional 10,742 shares during the period. State of Wyoming lifted its holdings in NiSource by 66.4% during the 4th quarter. State of Wyoming now owns 12,884 shares of the utilities provider's stock worth $474,000 after buying an additional 5,142 shares during the period. Finally, Tema Etfs LLC acquired a new position in NiSource during the 4th quarter worth about $414,000. Institutional investors own 91.64% of the company's stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. Barclays lifted their target price on NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Guggenheim boosted their price objective on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. UBS Group boosted their price objective on NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Mizuho boosted their price objective on NiSource from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, March 26th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource currently has an average rating of "Buy" and an average target price of $41.50.
Get Our Latest Stock Report on NiSource
NiSource Stock Up 1.3%
NI stock traded up $0.51 during trading on Friday, reaching $39.01. 3,073,894 shares of the stock were exchanged, compared to its average volume of 4,162,775. The firm's 50 day moving average is $39.07 and its 200 day moving average is $38.16. NiSource Inc. has a twelve month low of $27.60 and a twelve month high of $41.45. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The firm has a market cap of $18.36 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 2.56 and a beta of 0.53.
NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the previous year, the company posted $0.85 EPS. As a group, research analysts forecast that NiSource Inc. will post 1.91 EPS for the current year.
NiSource Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, July 31st. NiSource's dividend payout ratio is currently 60.54%.
Insiders Place Their Bets
In other news, Director Michael E. Jesanis sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $152,880.00. Following the completion of the transaction, the director now directly owns 24,719 shares of the company's stock, valued at $944,760.18. This represents a 13.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.24% of the company's stock.
About NiSource
(
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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