UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NiSource, Inc (NYSE:NI – Free Report) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,381,989 shares of the utilities provider’s stock after buying an additional 183,321 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NiSource were worth $208,364,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Compass Financial Management LLC purchased a new stake in shares of NiSource in the second quarter valued at $26,000. Zions Bancorporation National Association UT boosted its stake in shares of NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 330 shares during the period. Strive Financial Group LLC purchased a new position in shares of NiSource during the 4th quarter worth about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in NiSource during the 4th quarter valued at about $27,000. Finally, DV Equities LLC bought a new position in NiSource during the 4th quarter valued at about $28,000. Institutional investors own 91.64% of the company’s stock.
NiSource Trading Up 0.8%
NI stock opened at $40.91 on Tuesday. The company has a market capitalization of $19.62 billion, a PE ratio of 21.76, a P/E/G ratio of 3.02 and a beta of 0.55. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $49.21. The firm’s 50-day moving average is $44.69 and its 200 day moving average is $46.13. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41.
NiSource Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s payout ratio is currently 63.83%.
Analysts Set New Price Targets
Several brokerages have issued reports on NI. Wall Street Zen downgraded shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Royal Bank Of Canada began coverage on NiSource in a research note on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price on the stock. KeyCorp reduced their price target on NiSource from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Mizuho reduced their price target on NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, August 26th. Finally, LADENBURG THALM/SH SH decreased their price target on NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.64.
Get Our Latest Stock Report on NiSource
Insider Activity
In related news, EVP Melody Birmingham sold 37,509 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares in the company, valued at approximately $3,329,544.80. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.
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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