Polymer Capital Management HK LTD bought a new stake in shares of NiSource Inc. (NYSE:NI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,009 shares of the utilities provider's stock, valued at approximately $993,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group grew its holdings in NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock worth $32,000 after acquiring an additional 527 shares during the period. Spire Wealth Management acquired a new position in shares of NiSource in the 4th quarter worth approximately $39,000. Catalyst Capital Advisors LLC bought a new stake in shares of NiSource in the 4th quarter worth approximately $40,000. Legacy Investment Solutions LLC acquired a new stake in NiSource during the third quarter valued at approximately $47,000. Finally, Intact Investment Management Inc. bought a new stake in NiSource during the fourth quarter worth approximately $66,000. 91.64% of the stock is currently owned by institutional investors.
NiSource Stock Up 1.0 %
Shares of NYSE:NI traded up $0.40 during trading on Friday, reaching $38.41. 5,635,186 shares of the company traded hands, compared to its average volume of 4,134,590. The firm has a fifty day simple moving average of $39.19 and a 200 day simple moving average of $37.23. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. NiSource Inc. has a 1-year low of $26.26 and a 1-year high of $41.45. The firm has a market cap of $18.07 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.56 and a beta of 0.48.
NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period last year, the business earned $0.53 earnings per share. Analysts anticipate that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.
NiSource Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, April 30th. NiSource's payout ratio is presently 69.14%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on NI. Wells Fargo & Company upped their price target on NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. UBS Group boosted their target price on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Finally, Mizuho increased their price target on NiSource from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, March 26th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $39.33.
View Our Latest Stock Report on NI
Insider Buying and Selling
In other news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total value of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares of the company's stock, valued at $988,339.36. This trade 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 this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
NiSource Profile
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Free Report)
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.
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