Longboard Asset Management LP Takes Position in NiSource Inc. (NYSE:NI)

Longboard Asset Management LP acquired a new position in shares of NiSource Inc. (NYSE:NI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,200 shares of the utilities provider's stock, valued at approximately $265,000. NiSource makes up about 0.7% of Longboard Asset Management LP's investment portfolio, making the stock its 10th biggest position.

Other institutional investors also recently modified their holdings of the company. abrdn plc grew its stake in NiSource by 4.1% in the 4th quarter. abrdn plc now owns 220,962 shares of the utilities provider's stock worth $8,084,000 after buying an additional 8,690 shares in the last quarter. Resonant Capital Advisors LLC grew its position in NiSource by 6.4% in the fourth quarter. Resonant Capital Advisors LLC now owns 7,171 shares of the utilities provider's stock worth $264,000 after acquiring an additional 432 shares in the last quarter. Spire Wealth Management bought a new position in NiSource in the fourth quarter valued at $39,000. Custom Index Systems LLC purchased a new stake in NiSource during the fourth quarter valued at about $269,000. Finally, Caprock Group LLC lifted its stake in NiSource by 8.4% during the fourth quarter. Caprock Group LLC now owns 25,516 shares of the utilities provider's stock worth $938,000 after purchasing an additional 1,984 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

NiSource Trading Up 0.2 %

NiSource stock traded up $0.08 during trading hours on Thursday, reaching $38.19. The stock had a trading volume of 2,259,751 shares, compared to its average volume of 3,654,731. The stock has a market cap of $17.82 billion, a PE ratio of 23.14, a PEG ratio of 2.45 and a beta of 0.54. The company has a fifty day simple moving average of $36.92 and a 200-day simple moving average of $34.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.83.

NiSource Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from NiSource's previous quarterly dividend of $0.27. NiSource's payout ratio is currently 64.24%.

Analyst Upgrades and Downgrades

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

NiSource Profile

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.