Cibc World Markets Corp boosted its stake in NiSource Inc. (NYSE:NI - Free Report) by 19.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 72,794 shares of the utilities provider's stock after acquiring an additional 11,960 shares during the quarter. Cibc World Markets Corp's holdings in NiSource were worth $2,676,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its holdings 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 purchasing an additional 527 shares in the last quarter. Spire Wealth Management purchased a new position in NiSource in the 4th quarter valued at about $39,000. Catalyst Capital Advisors LLC acquired a new stake in NiSource in the 4th quarter worth about $40,000. Legacy Investment Solutions LLC purchased a new stake in NiSource during the 3rd quarter worth approximately $47,000. Finally, Intact Investment Management Inc. purchased a new stake in NiSource during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 91.64% of the company's stock.
Insider Activity
In related news, CAO Gunnar Gode sold 5,500 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the transaction, the chief accounting officer now owns 24,758 shares of the company's stock, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company's stock.
NiSource Trading Down 0.5 %
Shares of NI traded down $0.21 during mid-day trading on Tuesday, reaching $39.63. The stock had a trading volume of 3,254,786 shares, compared to its average volume of 3,706,358. NiSource Inc. has a 52-week low of $26.26 and a 52-week high of $41.45. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 2.56 and a beta of 0.50. The business's fifty day moving average is $38.74 and its 200 day moving average is $36.72. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41.
NiSource (NYSE:NI - Get Free Report) last posted its quarterly 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 net margin of 13.94% and a return on equity of 7.87%. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, sell-side analysts predict that NiSource Inc. will post 1.91 EPS for the current fiscal year.
NiSource Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.83%. NiSource's dividend payout ratio is currently 69.14%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on NI. UBS Group lifted their price target on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday. Wells Fargo & Company lifted their target price on shares of NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource currently has an average rating of "Buy" and a consensus price target of $38.89.
View Our Latest Stock Analysis on NI
NiSource 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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