Russell Investments Group Ltd. increased its position in shares of NiSource Inc. (NYSE:NI - Free Report) by 13.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 438,533 shares of the utilities provider's stock after buying an additional 53,448 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of NiSource worth $11,643,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Raymond James Trust N.A. grew its stake in shares of NiSource by 4.9% in the 4th quarter. Raymond James Trust N.A. now owns 8,930 shares of the utilities provider's stock valued at $237,000 after purchasing an additional 414 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of NiSource by 16.7% in the 4th quarter. Blue Trust Inc. now owns 3,228 shares of the utilities provider's stock worth $80,000 after acquiring an additional 463 shares during the period. Fifth Third Bancorp increased its stake in shares of NiSource by 5.4% during the fourth quarter. Fifth Third Bancorp now owns 9,187 shares of the utilities provider's stock worth $244,000 after acquiring an additional 470 shares during the period. Spreng Capital Management Inc. raised its holdings in NiSource by 4.6% during the third quarter. Spreng Capital Management Inc. now owns 10,816 shares of the utilities provider's stock worth $267,000 after purchasing an additional 475 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in NiSource by 46.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 491 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on NI. Barclays raised their target price on NiSource from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. StockNews.com raised shares of NiSource from a "sell" rating to a "hold" rating in a report on Saturday, February 24th.
Check Out Our Latest Stock Report on NI
NiSource Price Performance
Shares of NYSE NI traded up $0.22 during trading on Monday, reaching $28.76. The company had a trading volume of 4,715,967 shares, compared to its average volume of 4,219,932. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $12.89 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.78 and a beta of 0.49. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $28.95. The stock has a 50-day moving average price of $27.17 and a two-hundred day moving average price of $26.38.
NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.59 billion. NiSource had a return on equity of 10.10% and a net margin of 12.98%. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, sell-side analysts predict that NiSource Inc. will post 1.71 earnings per share for the current year.
NiSource Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, April 29th. NiSource's dividend payout ratio is currently 72.11%.
Insider Activity at NiSource
In related news, SVP Melanie B. Berman sold 11,141 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the sale, the senior vice president now directly owns 23,720 shares of the company's stock, valued at $632,375.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company's stock.
NiSource Company Profile
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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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