PGGM Investments increased its position in shares of NiSource Inc. (NYSE:NI - Free Report) by 1,701.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,048 shares of the utilities provider's stock after purchasing an additional 110,550 shares during the period. PGGM Investments' holdings in NiSource were worth $4,303,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of NiSource during the 4th quarter worth about $3,785,000. Vestcor Inc lifted its holdings in NiSource by 11.1% during the 4th quarter. Vestcor Inc now owns 16,038 shares of the utilities provider's stock valued at $590,000 after buying an additional 1,599 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in NiSource by 8.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 159,633 shares of the utilities provider's stock valued at $5,868,000 after buying an additional 11,760 shares in the last quarter. Securian Asset Management Inc. lifted its holdings in NiSource by 1.1% during the 4th quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider's stock valued at $922,000 after buying an additional 282 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in NiSource by 5.2% during the 4th quarter. Great Lakes Advisors LLC now owns 66,012 shares of the utilities provider's stock valued at $2,427,000 after buying an additional 3,238 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
NiSource Stock Down 1.2 %
Shares of NYSE:NI traded down $0.46 during trading hours on Tuesday, hitting $38.91. The company's stock had a trading volume of 5,973,534 shares, compared to its average volume of 4,443,660. NiSource Inc. has a 52 week low of $26.25 and a 52 week high of $41.44. 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 $18.28 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 2.56 and a beta of 0.50. The firm's fifty day moving average price is $38.42 and its 200 day moving average price is $36.50.
NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 EPS 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 quarter in the prior year, the business posted $0.53 earnings per share. As a group, research analysts expect that NiSource Inc. will post 1.91 EPS for the current year.
NiSource Announces Dividend
The company also recently disclosed 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. This represents a $1.12 annualized dividend and a dividend yield of 2.88%. NiSource's dividend payout ratio (DPR) is presently 69.14%.
Analyst Ratings Changes
Separately, Wells Fargo & Company lifted their price objective on shares of NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource presently has a consensus rating of "Buy" and an average target price of $38.13.
View Our Latest Analysis on NI
Insider Buying and Selling
In related news, CAO Gunnar Gode sold 5,500 shares of the business's stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 24,758 shares in the company, valued at $988,339.36. The trade was a 18.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.
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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