Elo Mutual Pension Insurance Co raised its stake in NiSource Inc. (NYSE:NI - Free Report) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,260 shares of the utilities provider's stock after acquiring an additional 7,439 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in NiSource were worth $1,737,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of NI. Brooklyn Investment Group lifted its stake in shares of 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 acquiring an additional 527 shares during the period. Spire Wealth Management acquired a new stake in NiSource in the fourth quarter worth about $39,000. Catalyst Capital Advisors LLC bought a new stake in NiSource during the 4th quarter worth about $40,000. Legacy Investment Solutions LLC acquired a new position in NiSource during the 3rd quarter valued at about $47,000. Finally, Intact Investment Management Inc. bought a new position in shares of NiSource in the 4th quarter valued at about $66,000. 91.64% of the stock is owned by institutional investors.
Insider Activity at NiSource
In other news, CAO Gunnar Gode sold 5,500 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the sale, the chief accounting officer now directly owns 24,758 shares in the company, 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 SEC, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on NI. Mizuho boosted their price target on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 26th. UBS Group upped their target price on shares of NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company raised their price target on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $39.33.
Read Our Latest Stock Analysis on NiSource
NiSource Trading Up 0.3 %
NiSource stock traded up $0.14 during mid-day trading on Wednesday, hitting $40.54. 1,214,155 shares of the company's stock were exchanged, compared to its average volume of 4,013,360. NiSource Inc. has a fifty-two week low of $26.26 and a fifty-two week high of $41.45. 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 firm has a market capitalization of $19.05 billion, a P/E ratio of 25.02, a PEG ratio of 2.56 and a beta of 0.50. The company's 50 day simple moving average is $39.00 and its 200-day simple moving average is $36.99.
NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data 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 period in the prior year, the firm posted $0.53 EPS. On average, equities analysts anticipate that NiSource Inc. will post 1.91 earnings per share for the current year.
NiSource Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.76%. 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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