Prudential PLC decreased its position in NiSource, Inc (NYSE:NI – Free Report) by 79.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,863 shares of the utilities provider’s stock after selling 49,177 shares during the quarter. Prudential PLC’s holdings in NiSource were worth $537,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Godfrey Financial Associates Inc. bought a new stake in NiSource in the 4th quarter worth about $30,000. REAP Financial Group LLC purchased a new position in NiSource in the third quarter worth about $32,000. Elyxium Wealth LLC purchased a new position in NiSource in the fourth quarter worth about $33,000. Laurel Wealth Advisors LLC purchased a new position in NiSource in the fourth quarter worth about $46,000. Finally, Sentry Investment Management LLC purchased a new position in NiSource in the third quarter worth about $52,000. Institutional investors own 91.64% of the company’s stock.
NiSource Stock Performance
NYSE:NI opened at $45.85 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $48.98. The stock’s 50 day simple moving average is $47.23 and its two-hundred day simple moving average is $45.13. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 3.72 and a beta of 0.55.
NiSource Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. NiSource’s payout ratio is presently 59.70%.
Insider Buying and Selling
In other NiSource news, EVP Melody Birmingham sold 2,500 shares of NiSource stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total value of $118,575.00. Following the sale, the executive vice president owned 116,036 shares of the company’s stock, valued at $5,503,587.48. The trade was a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the completion of the sale, the executive vice president directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,500 shares of company stock worth $1,305,675. Corporate insiders own 0.37% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on NI. Evercore set a $52.00 target price on NiSource in a research report on Monday, May 11th. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Barclays lifted their price objective on NiSource from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. KeyCorp initiated coverage on NiSource in a research report on Tuesday, March 31st. They set an “overweight” rating and a $52.00 price objective on the stock. Finally, Citigroup lifted their price objective on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.33.
Read Our Latest Analysis on NiSource
NiSource Profile
NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.
The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.
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