Hsbc Holdings PLC boosted its holdings in shares of NiSource, Inc (NYSE:NI – Free Report) by 8.7% in the first quarter, HoldingsChannel reports. The fund owned 807,175 shares of the utilities provider’s stock after buying an additional 64,422 shares during the quarter. Hsbc Holdings PLC’s holdings in NiSource were worth $37,670,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in NI. Kestra Advisory Services LLC lifted its position in shares of NiSource by 5.1% in the first quarter. Kestra Advisory Services LLC now owns 106,261 shares of the utilities provider’s stock worth $4,958,000 after purchasing an additional 5,198 shares in the last quarter. R Squared Ltd grew its position in NiSource by 39.6% during the first quarter. R Squared Ltd now owns 14,887 shares of the utilities provider’s stock valued at $695,000 after purchasing an additional 4,223 shares in the last quarter. Praxis Investment Management Inc. purchased a new position in NiSource during the first quarter valued at approximately $378,000. V Square Quantitative Management LLC increased its stake in NiSource by 3.6% in the 1st quarter. V Square Quantitative Management LLC now owns 13,605 shares of the utilities provider’s stock valued at $635,000 after buying an additional 475 shares during the period. Finally, Syntegra Private Wealth Group LLC purchased a new stake in NiSource in the 1st quarter worth approximately $215,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
NiSource Stock Performance
NI stock opened at $45.33 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $21.73 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 3.42 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 has a 50 day moving average of $46.95 and a two-hundred day moving average of $46.17.
NiSource Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is 59.70%.
Insider Activity
In related news, EVP Melody Birmingham sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total value of $471,900.00. Following the transaction, the executive vice president directly owned 117,899 shares of the company’s stock, valued at approximately $5,563,653.81. This trade represents a 7.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie B. Berman sold 15,000 shares of the business’s 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 owned 35,990 shares of the company’s stock, valued at approximately $1,716,003.20. This trade represents a 29.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have 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
NI has been the subject of a number of research reports. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Wells Fargo & Company increased their price objective on NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Evercore set a $52.00 price objective on NiSource in a research report on Monday, May 11th. Weiss Ratings downgraded NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Barclays upped their target price on NiSource from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.
Read Our Latest Analysis on NiSource
About NiSource
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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