Swiss National Bank lessened its holdings in NiSource Inc. (NYSE:NI – Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,607,500 shares of the utilities provider’s stock after selling 42,400 shares during the period. Swiss National Bank owned 0.39% of NiSource worth $44,946,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its position in NiSource by 67.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,075 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 434 shares during the last quarter. Allworth Financial LP increased its holdings in shares of NiSource by 161.0% during the 1st quarter. Allworth Financial LP now owns 1,099 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 678 shares during the period. Achmea Investment Management B.V. bought a new position in shares of NiSource during the 1st quarter worth about $33,000. Global Retirement Partners LLC increased its holdings in shares of NiSource by 897.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,197 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 1,077 shares during the period. Finally, US Asset Management LLC bought a new position in shares of NiSource during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 93.18% of the company’s stock.
NiSource Price Performance
NI stock opened at $26.44 on Monday. The company has a 50 day simple moving average of $27.32 and a 200 day simple moving average of $27.51. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 2.39 and a beta of 0.47. NiSource Inc. has a 1 year low of $23.78 and a 1 year high of $31.87. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.45 and a quick ratio of 0.34.
NiSource Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.00 annualized dividend and a dividend yield of 3.78%. NiSource’s dividend payout ratio is currently 69.44%.
Insider Activity
In related news, EVP William Jr. Jefferson sold 4,875 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $26.80, for a total transaction of $130,650.00. Following the completion of the sale, the executive vice president now owns 30,905 shares in the company, valued at $828,254. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NiSource news, EVP Donald Eugene Brown sold 14,000 shares of NiSource stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $26.64, for a total transaction of $372,960.00. Following the transaction, the executive vice president now directly owns 187,278 shares of the company’s stock, valued at $4,989,085.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Jr. Jefferson sold 4,875 shares of NiSource stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $26.80, for a total transaction of $130,650.00. Following the transaction, the executive vice president now directly owns 30,905 shares in the company, valued at $828,254. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research firms recently weighed in on NI. Bank of America lowered their target price on shares of NiSource from $32.00 to $31.00 in a research note on Thursday, June 22nd. UBS Group raised shares of NiSource from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, June 6th. Evercore ISI reduced their price objective on shares of NiSource from $31.00 to $30.00 in a research note on Wednesday, June 21st. StockNews.com started coverage on shares of NiSource in a research note on Thursday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets reduced their price objective on shares of NiSource from $31.00 to $30.00 in a research note on Wednesday, June 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, NiSource currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.
Check Out Our Latest Stock Report on NiSource
About NiSource
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.
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