Guggenheim Capital LLC grew its holdings in shares of NiSource Inc. (NYSE:NI - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 526,307 shares of the utilities provider's stock after buying an additional 18,942 shares during the quarter. Guggenheim Capital LLC owned 0.11% of NiSource worth $19,347,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in NiSource by 88.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider's stock valued at $516,373,000 after purchasing an additional 6,991,608 shares in the last quarter. Norges Bank bought a new position in shares of NiSource during the fourth quarter worth about $195,745,000. Invesco Ltd. increased its holdings in NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock valued at $301,427,000 after buying an additional 2,714,262 shares during the last quarter. Vanguard Group Inc. raised its stake in NiSource by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider's stock valued at $2,124,492,000 after buying an additional 2,459,452 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of NiSource by 793.3% in the 3rd quarter. Retirement Systems of Alabama now owns 883,387 shares of the utilities provider's stock worth $30,609,000 after acquiring an additional 784,495 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.
Insider Buying and Selling
In related news, CAO Gunnar Gode sold 5,500 shares of NiSource 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.
NiSource Price Performance
Shares of NI stock traded down $0.71 during midday trading on Monday, reaching $38.58. 241,423 shares of the company were exchanged, compared to its average volume of 4,120,238. NiSource Inc. has a 12 month low of $27.46 and a 12 month high of $41.45. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. The company has a market cap of $18.16 billion, a P/E ratio of 23.82, a PEG ratio of 2.56 and a beta of 0.48. The company's 50 day moving average price is $39.29 and its two-hundred day moving average price is $37.41.
NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (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 period in the prior year, the business earned $0.53 EPS. On average, sell-side analysts expect that NiSource Inc. will post 1.91 earnings per share for the current year.
NiSource Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be issued 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 dividend yield of 2.90%. NiSource's payout ratio is currently 69.14%.
Wall Street Analyst Weigh In
A number of research firms have commented on NI. Mizuho lifted their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, March 26th. UBS Group raised their target price on shares of NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, Wells Fargo & Company upped their target price on NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NiSource presently has an average rating of "Buy" and an average price target of $39.33.
Read Our Latest Research Report on NI
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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