SG Americas Securities LLC cut its holdings in NiSource Inc. (NYSE:NI - Free Report) by 60.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,029 shares of the utilities provider's stock after selling 24,576 shares during the quarter. SG Americas Securities LLC's holdings in NiSource were worth $589,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of NiSource by 1.4% during the 2nd quarter. Creative Planning now owns 105,119 shares of the utilities provider's stock valued at $3,028,000 after buying an additional 1,404 shares during the period. Cetera Investment Advisers lifted its holdings in NiSource by 1.0% in the second quarter. Cetera Investment Advisers now owns 69,397 shares of the utilities provider's stock valued at $1,999,000 after acquiring an additional 671 shares during the period. Sanctuary Advisors LLC purchased a new position in NiSource in the second quarter worth about $2,964,000. Czech National Bank boosted its position in NiSource by 7.0% in the third quarter. Czech National Bank now owns 91,366 shares of the utilities provider's stock worth $3,166,000 after purchasing an additional 5,938 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in NiSource by 25.1% in the third quarter. GAMMA Investing LLC now owns 14,560 shares of the utilities provider's stock worth $505,000 after purchasing an additional 2,919 shares during the last quarter. 91.64% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
NI has been the topic of several research reports. Wells Fargo & Company raised their target price on NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Barclays lifted their price objective on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Mizuho lifted 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. JPMorgan Chase & Co. lifted their price objective on NiSource from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on NiSource in a research report on Monday, October 28th. They set a "buy" rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NiSource has an average rating of "Moderate Buy" and an average price target of $37.50.
Check Out Our Latest Analysis on NiSource
NiSource Stock Performance
NYSE NI traded down $0.40 during trading hours on Friday, hitting $37.33. The company had a trading volume of 4,410,213 shares, compared to its average volume of 3,424,737. The business has a 50 day moving average of $36.95 and a 200-day moving average of $34.81. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The company has a market cap of $17.42 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.40 and a beta of 0.54. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.83.
NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. NiSource's quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts expect that NiSource Inc. will post 1.73 EPS for the current year.
NiSource Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, February 3rd. This is a boost from NiSource's previous quarterly dividend of $0.27. NiSource's dividend payout ratio is currently 64.24%.
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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