Credit Suisse AG Has $20.44 Million Stock Position in NiSource Inc. (NYSE:NI)

Posted by on Jun 8th, 2023

Credit Suisse AG trimmed its position in NiSource Inc. (NYSE:NI – Get Rating) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 745,374 shares of the utilities provider’s stock after selling 296,562 shares during the quarter. Credit Suisse AG owned about 0.18% of NiSource worth $20,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NI. Private Advisor Group LLC increased its holdings in NiSource by 16.3% in the 1st quarter. Private Advisor Group LLC now owns 18,625 shares of the utilities provider’s stock valued at $593,000 after buying an additional 2,614 shares during the period. MetLife Investment Management LLC lifted its position in NiSource by 23.1% during the 1st quarter. MetLife Investment Management LLC now owns 106,827 shares of the utilities provider’s stock worth $3,397,000 after buying an additional 20,064 shares in the last quarter. Cibc World Market Inc. lifted its position in NiSource by 66.2% during the 1st quarter. Cibc World Market Inc. now owns 146,548 shares of the utilities provider’s stock worth $4,660,000 after buying an additional 58,398 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NiSource by 29.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,952,676 shares of the utilities provider’s stock valued at $62,093,000 after purchasing an additional 447,102 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in NiSource during the 1st quarter valued at about $472,000. Institutional investors own 92.58% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kimberly S. Cuccia sold 11,157 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $28.54, for a total value of $318,420.78. Following the transaction, the senior vice president now owns 20,329 shares in the company, valued at $580,189.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by company insiders.

NiSource Stock Up 1.6 %

NI opened at $27.40 on Thursday. NiSource Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $31.87. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.50 and a current ratio of 0.60. The company has a market capitalization of $11.32 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.50 and a beta of 0.48. The stock has a fifty day moving average of $27.94 and a 200-day moving average of $27.58.

NiSource (NYSE:NI – Get Rating) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. NiSource had a return on equity of 11.14% and a net margin of 11.72%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.75 earnings per share. On average, equities analysts expect that NiSource Inc. will post 1.57 EPS for the current year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Friday, July 28th. NiSource’s payout ratio is currently 68.03%.

Analyst Upgrades and Downgrades

NI has been the subject of a number of recent analyst reports. StockNews.com began coverage on NiSource in a research note on Thursday, May 18th. They issued a “hold” rating for the company. UBS Group raised NiSource from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday. Finally, BMO Capital Markets raised their price target on shares of NiSource from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, NiSource presently has a consensus rating of “Moderate Buy” and an average target price of $29.43.

NiSource Company Profile

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NiSource, Inc is a holding company, which engages in the provision of energy solutions. It operates under the Gas Distribution Operations and Electric Operations segments. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial, and industrial customers.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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