abrdn plc Grows Holdings in NiSource Inc. (NYSE:NI)

abrdn plc raised its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,962 shares of the utilities provider's stock after purchasing an additional 8,690 shares during the quarter. abrdn plc's holdings in NiSource were worth $8,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brooklyn Investment Group grew its position in shares of NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock worth $32,000 after buying an additional 527 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of NiSource in the 3rd quarter worth about $33,000. Spire Wealth Management purchased a new stake in shares of NiSource in the 4th quarter worth about $39,000. Legacy Investment Solutions LLC purchased a new stake in shares of NiSource in the 3rd quarter worth about $47,000. Finally, Friedenthal Financial purchased a new stake in shares of NiSource in the 3rd quarter worth about $50,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

NI traded up $0.36 during midday trading on Wednesday, hitting $38.79. 7,425,520 shares of the company traded hands, compared to its average volume of 3,745,633. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $18.11 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.54. The company's 50-day moving average is $36.96 and its 200 day moving average is $35.19. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.99.

NiSource (NYSE:NI - Get Free Report) last posted its earnings results 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 net margin of 14.63% and a return on equity of 8.27%. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, research analysts expect that NiSource Inc. will post 1.73 EPS for the current year.

NiSource Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Monday, February 3rd. This is a boost from NiSource's previous quarterly dividend of $0.27. NiSource's dividend payout ratio is 67.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NI shares. Wells Fargo & Company upped their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Mizuho increased their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Barclays increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of NiSource in a research report on Monday, October 28th. They set a "buy" rating and a $39.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of NiSource from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.50.

About NiSource

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.