Edgestream Partners L.P. Makes New Investment in NiSource Inc. (NYSE:NI)

Edgestream Partners L.P. bought a new stake in shares of NiSource Inc. (NYSE:NI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 234,150 shares of the utilities provider's stock, valued at approximately $8,607,000. NiSource makes up about 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 28th biggest position. Edgestream Partners L.P. owned approximately 0.05% of NiSource as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC boosted its position in NiSource by 3.8% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 29,131 shares of the utilities provider's stock worth $1,071,000 after purchasing an additional 1,075 shares in the last quarter. Callan Family Office LLC purchased a new position in NiSource during the fourth quarter valued at $278,000. Vestmark Advisory Solutions Inc. increased its stake in shares of NiSource by 4.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 10,702 shares of the utilities provider's stock worth $393,000 after purchasing an additional 444 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in NiSource during the 4th quarter worth approximately $15,522,000. Finally, Arizona State Retirement System lifted its position in shares of NiSource by 1.4% in the fourth quarter. Arizona State Retirement System now owns 130,270 shares of the utilities provider's stock valued at $4,789,000 after acquiring an additional 1,831 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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NiSource Stock Performance

Shares of NYSE:NI traded up $0.35 during midday trading on Tuesday, hitting $38.87. The stock had a trading volume of 5,877,327 shares, compared to its average volume of 4,412,164. NiSource Inc. has a 1 year low of $26.04 and a 1 year high of $41.44. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $36.28. The company has a market capitalization of $18.26 billion, a PE ratio of 23.99, a P/E/G ratio of 2.56 and a beta of 0.50.

NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, equities analysts predict that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Monday, February 3rd. This is a boost from NiSource's previous quarterly dividend of $0.27. NiSource's dividend payout ratio (DPR) is currently 69.14%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price target on shares of NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource currently has an average rating of "Buy" and an average target price of $38.13.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

NiSource Company Profile

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.