Picton Mahoney Asset Management Purchases 87,423 Shares of NiSource Inc. (NYSE:NI)

Picton Mahoney Asset Management raised its position in NiSource Inc. (NYSE:NI - Free Report) by 42.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,876 shares of the utilities provider's stock after buying an additional 87,423 shares during the quarter. Picton Mahoney Asset Management owned 0.06% of NiSource worth $10,765,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Securian Asset Management Inc. boosted its stake in NiSource by 1.1% in the fourth 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. Aviso Financial Inc. boosted its stake in NiSource by 1.0% in the fourth quarter. Aviso Financial Inc. now owns 31,450 shares of the utilities provider's stock valued at $1,156,000 after buying an additional 300 shares in the last quarter. AMG National Trust Bank boosted its stake in NiSource by 0.6% in the fourth quarter. AMG National Trust Bank now owns 48,716 shares of the utilities provider's stock valued at $1,788,000 after buying an additional 308 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in NiSource by 4.1% in the third quarter. Coldstream Capital Management Inc. now owns 10,457 shares of the utilities provider's stock valued at $363,000 after buying an additional 414 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in NiSource by 3.2% in the third quarter. Empirical Finance LLC now owns 13,926 shares of the utilities provider's stock valued at $483,000 after buying an additional 428 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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NiSource Trading Down 1.2 %

Shares of NI traded down $0.46 during mid-day trading on Tuesday, reaching $38.91. 5,973,534 shares of the company were exchanged, compared to its average volume of 3,675,556. The stock has a market capitalization of $18.28 billion, a PE ratio of 24.02, a PEG ratio of 2.56 and a beta of 0.50. The business has a 50 day simple moving average of $38.49 and a two-hundred day simple moving average of $36.54. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. NiSource Inc. has a 52 week low of $26.26 and a 52 week high of $41.45.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share 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 firm earned $0.53 EPS. On average, analysts predict that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.88%. NiSource's dividend payout ratio is 69.14%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their target price on NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $38.13.

Insider Activity at NiSource

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the sale, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.