Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in NiSource Inc. (NYSE:NI - Free Report) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,198 shares of the utilities provider's stock after selling 86,887 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of NiSource worth $9,271,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NI. Brooklyn Investment Group increased its holdings in NiSource by 153.2% during the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 527 shares in the last quarter. Spire Wealth Management purchased a new position in shares of NiSource during the 4th quarter worth approximately $39,000. Catalyst Capital Advisors LLC acquired a new position in shares of NiSource during the 4th quarter worth approximately $40,000. Legacy Investment Solutions LLC purchased a new stake in NiSource in the 3rd quarter valued at approximately $47,000. Finally, Eastern Bank grew its holdings in NiSource by 1,242.2% during the 4th quarter. Eastern Bank now owns 2,161 shares of the utilities provider's stock valued at $79,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.
Insider Activity
In related news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction 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 transaction, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $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 can be accessed through this link. Corporate insiders own 0.13% of the company's stock.
NiSource Trading Down 0.4 %
NI traded down $0.16 during midday trading on Monday, hitting $39.32. The company's stock had a trading volume of 4,846,462 shares, compared to its average volume of 3,667,952. NiSource Inc. has a 52-week low of $26.26 and a 52-week high of $41.45. The firm has a 50-day moving average price of $38.35 and a two-hundred day moving average price of $36.45. 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 firm has a market cap of $18.48 billion, a P/E ratio of 24.27, a PEG ratio of 2.56 and a beta of 0.50.
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 for the quarter, missing analysts' consensus estimates 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 in the previous year, the company posted $0.53 EPS. On average, research analysts anticipate that NiSource Inc. will post 1.91 earnings per share for the current year.
NiSource Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.28 per share. The ex-dividend date was Monday, February 3rd. This is a positive change from NiSource's previous quarterly dividend of $0.27. 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
Separately, Wells Fargo & Company lifted 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, NiSource presently has a consensus rating of "Buy" and a consensus price target of $38.13.
Read Our Latest Research Report on NiSource
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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