Brookfield Corp ON cut its stake in NiSource Inc. (NYSE:NI – Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,961,780 shares of the utilities provider’s stock after selling 64,780 shares during the period. NiSource accounts for about 0.6% of Brookfield Corp ON’s investment portfolio, making the stock its 20th biggest position. Brookfield Corp ON owned approximately 1.44% of NiSource worth $166,691,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its position 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 buying an additional 678 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of NiSource during the 1st quarter worth approximately $33,000. Global Retirement Partners LLC grew its position 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 buying an additional 1,077 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of NiSource during the 1st quarter worth approximately $36,000. Finally, Parkside Financial Bank & Trust grew its position in shares of NiSource by 182.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,372 shares of the utilities provider’s stock worth $38,000 after buying an additional 887 shares during the period. 94.91% of the stock is owned by institutional investors.
NiSource Stock Performance
Shares of NI opened at $27.08 on Tuesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.34 and a current ratio of 0.45. NiSource Inc. has a twelve month low of $23.78 and a twelve month high of $30.83. The firm’s 50 day moving average price is $27.12 and its two-hundred day moving average price is $27.45. The firm has a market cap of $11.19 billion, a P/E ratio of 18.81, a PEG ratio of 2.43 and a beta of 0.48.
NiSource Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, October 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, October 30th. NiSource’s dividend payout ratio is presently 69.44%.
Insider Transactions at NiSource
In other news, EVP William Jr. Jefferson sold 4,875 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $26.80, for a total value of $130,650.00. Following the sale, the executive vice president now owns 30,905 shares of the company’s stock, valued at $828,254. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NiSource news, EVP William Jr. Jefferson sold 4,875 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $26.80, for a total transaction of $130,650.00. Following the sale, the executive vice president now directly owns 30,905 shares of the company’s stock, valued at $828,254. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lloyd M. Yates purchased 40,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $26.44 per share, for a total transaction of $1,057,600.00. Following the completion of the transaction, the chief executive officer now directly owns 131,242 shares of the company’s stock, valued at approximately $3,470,038.48. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on NI shares. StockNews.com cut shares of NiSource from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets decreased their price objective on shares of NiSource from $31.00 to $30.00 in a report on Wednesday, June 21st. Guggenheim decreased their price objective on shares of NiSource from $31.00 to $30.00 in a report on Friday, July 7th. UBS Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, June 6th. Finally, Bank of America decreased their price objective on shares of NiSource from $32.00 to $31.00 in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.
Get Our Latest Stock Report on NiSource
NiSource Profile
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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