Ninepoint Partners LP acquired a new position in NiSource, Inc (NYSE:NI – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,720 shares of the utilities provider’s stock, valued at approximately $1,794,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT increased its holdings in NiSource by 113.8% in the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock worth $26,000 after buying an additional 330 shares during the period. Strive Financial Group LLC acquired a new stake in NiSource during the 4th quarter valued at approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in NiSource during the 4th quarter valued at approximately $27,000. DV Equities LLC purchased a new stake in shares of NiSource in the 4th quarter valued at $28,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of NiSource in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
NiSource Price Performance
NYSE:NI opened at $41.69 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41. The company has a 50 day moving average price of $45.60 and a 200-day moving average price of $46.29. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $49.21. The firm has a market cap of $19.99 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 3.10 and a beta of 0.55.
NiSource Announces Dividend
The company also recently announced 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 dividend payout ratio is presently 63.83%.
Insider Activity at NiSource
In other news, EVP Melody Birmingham sold 37,509 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the sale, the executive vice president directly owned 78,527 shares in the company, valued at $3,329,544.80. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
NI has been the subject of a number of research reports. BMO Capital Markets decreased their target price on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NiSource in a research report on Tuesday, July 21st. Evercore set a $52.00 price objective on NiSource in a research note on Monday, May 11th. Barclays decreased their price objective on NiSource from $51.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Citigroup upped their target price on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.82.
Check Out Our Latest Stock Report on NI
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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