Landscape Capital Management L.L.C. acquired a new position in shares of NiSource Inc. (NYSE:NI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 52,260 shares of the utilities provider's stock, valued at approximately $1,921,000.
Several other hedge funds have also made changes to their positions in NI. Brooklyn Investment Group lifted its position in NiSource by 153.2% during the 4th 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 purchased a new position in NiSource in the 4th quarter valued at $39,000. Catalyst Capital Advisors LLC acquired a new position in NiSource in the 4th quarter valued at $40,000. Legacy Investment Solutions LLC purchased a new position in NiSource during the 3rd quarter worth $47,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of NiSource in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 91.64% of the company's stock.
Analysts Set New Price Targets
NI has been the topic of a number of analyst reports. UBS Group lifted their price objective on NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a report on Friday, March 21st. Mizuho upped their price objective on NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company increased their price objective on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NiSource has an average rating of "Buy" and an average target price of $39.33.
View Our Latest Report on NI
Insider Buying and Selling at NiSource
In other news, CAO Gunnar Gode sold 5,500 shares of NiSource 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 sale, the chief accounting officer now owns 24,758 shares of the company's stock, valued at $988,339.36. The trade was a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by insiders.
NiSource Price Performance
Shares of NiSource stock traded down $0.03 on Thursday, hitting $38.12. The company's stock had a trading volume of 2,044,424 shares, compared to its average volume of 4,124,271. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $17.94 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 2.56 and a beta of 0.48. The firm has a fifty day moving average price of $39.16 and a 200-day moving average price of $37.17. NiSource Inc. has a 52-week low of $26.26 and a 52-week high of $41.45.
NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) 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 company earned $0.53 EPS. On average, equities research analysts expect that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.
NiSource Announces Dividend
The company also recently announced 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 yield of 2.94%. The ex-dividend date of this dividend is Wednesday, April 30th. NiSource's payout ratio is 69.14%.
About NiSource
(
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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