FMR LLC reduced its holdings in NiSource Inc. (NYSE:NI - Free Report) by 14.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,695,707 shares of the utilities provider's stock after selling 1,700,782 shares during the period. FMR LLC owned approximately 2.08% of NiSource worth $356,414,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew 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 during the period. Spire Wealth Management acquired a new stake in shares of NiSource during the fourth quarter worth about $39,000. Catalyst Capital Advisors LLC bought a new position in shares of NiSource during the 4th quarter valued at about $40,000. Intact Investment Management Inc. acquired a new position in shares of NiSource in the 4th quarter valued at approximately $66,000. Finally, Eastern Bank increased its stake in NiSource by 1,242.2% during the 4th quarter. Eastern Bank now owns 2,161 shares of the utilities provider's stock worth $79,000 after purchasing an additional 2,000 shares in the last quarter. 91.64% of the stock is owned by institutional investors.
NiSource Price Performance
NYSE NI traded up $0.10 on Wednesday, hitting $39.57. 424,083 shares of the company's stock were exchanged, compared to its average volume of 4,694,835. 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 has a market cap of $18.62 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.56 and a beta of 0.48. NiSource Inc. has a 52 week low of $26.70 and a 52 week high of $41.44. The stock has a 50-day moving average of $39.23 and a 200-day moving average of $37.30.
NiSource (NYSE:NI - Get Free Report) last announced its quarterly 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 period in the prior year, the firm earned $0.53 earnings per share. Analysts expect that NiSource Inc. will post 1.91 earnings per share for the current year.
NiSource Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, April 30th. NiSource's payout ratio is 69.14%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. UBS Group lifted their price target on NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company upped their price objective on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource has an average rating of "Buy" and an average price target of $39.33.
View Our Latest Report on NiSource
Insider Buying and Selling 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 shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the sale, the chief accounting officer now directly owns 24,758 shares of the company's stock, valued at $988,339.36. The trade was a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.13% of the company's stock.
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.
Featured Articles
Before you consider NiSource, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NiSource wasn't on the list.
While NiSource currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
