HITE Hedge Asset Management LLC lessened its position in NiSource Inc. (NYSE:NI - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 745,443 shares of the utilities provider's stock after selling 14,467 shares during the period. NiSource makes up about 2.0% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 18th biggest holding. HITE Hedge Asset Management LLC owned about 0.16% of NiSource worth $27,402,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan acquired a new stake in NiSource during the 4th quarter worth $27,000. Brooklyn Investment Group raised its position in shares of NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock worth $32,000 after purchasing an additional 527 shares during the period. Spire Wealth Management bought a new position in shares of NiSource during the 4th quarter valued at about $39,000. Catalyst Capital Advisors LLC bought a new position in NiSource in the fourth quarter valued at approximately $40,000. Finally, Intact Investment Management Inc. bought a new stake in shares of NiSource during the fourth quarter worth $66,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CAO Gunnar Gode sold 5,500 shares of the firm'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 transaction, the chief accounting officer now directly owns 24,758 shares of the company's stock, valued at $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by insiders.
NiSource Price Performance
NI stock traded up $0.22 during midday trading on Wednesday, reaching $39.24. The company had a trading volume of 1,265,280 shares, compared to its average volume of 4,134,528. NiSource Inc. has a 1-year low of $27.46 and a 1-year high of $41.45. The stock has a 50 day moving average price of $39.26 and a 200-day moving average price of $37.44. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 2.56 and a beta of 0.48.
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 (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same quarter last year, the business posted $0.53 EPS. Equities research analysts expect that NiSource Inc. will post 1.91 earnings per share for the current year.
NiSource Announces Dividend
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 paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.12 annualized dividend and a yield of 2.85%. NiSource's dividend payout ratio is currently 69.14%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on NI shares. Mizuho upped their target price 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 increased their price objective on 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 boosted their target price on NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource presently has an average rating of "Buy" and an average price target of $39.33.
Get Our Latest Research Report on NiSource
NiSource Company 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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