Charles Schwab Investment Management Inc. grew its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,121,587 shares of the utilities provider's stock after buying an additional 207,391 shares during the period. Charles Schwab Investment Management Inc. owned 0.88% of NiSource worth $151,510,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group boosted its stake in NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock valued at $32,000 after buying an additional 527 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of NiSource during the 3rd quarter valued at approximately $33,000. Spire Wealth Management purchased a new position in shares of NiSource in the fourth quarter valued at $39,000. Catalyst Capital Advisors LLC bought a new stake in NiSource in the fourth quarter worth $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in NiSource during the third quarter valued at $47,000. 91.64% of the stock is currently owned by institutional investors.
NiSource Stock Up 0.9 %
Shares of NiSource stock traded up $0.35 during trading on Tuesday, hitting $38.87. 5,877,327 shares of the stock traded hands, compared to its average volume of 4,412,155. 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's fifty day simple moving average is $38.15 and its 200 day simple moving average is $36.28. The firm has a market cap of $18.26 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. NiSource Inc. has a 52-week low of $26.04 and a 52-week high of $41.44.
NiSource (NYSE:NI - Get Free Report) last posted its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 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 company posted $0.53 EPS. On average, 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 announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend 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 69.14%.
Insider Activity
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. The trade was a 18.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Wells Fargo & Company increased their price target on shares of NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $38.13.
Check Out Our Latest Stock Report on NI
NiSource Company Profile
(
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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