Creative Planning Acquires 2,135 Shares of NiSource Inc. (NYSE:NI)

Posted by Defense World Staff on Oct 14th, 2023

Creative Planning boosted its holdings in NiSource Inc. (NYSE:NI – Free Report) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,212 shares of the utilities provider’s stock after purchasing an additional 2,135 shares during the period. Creative Planning’s holdings in NiSource were worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in NiSource by 161.0% in the first 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 in the first quarter worth approximately $33,000. Global Retirement Partners LLC lifted its stake in shares of NiSource by 897.5% in the first 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 in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of NiSource in the first quarter worth approximately $36,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of NiSource by 182.9% in the first 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 in the last quarter. 94.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NiSource news, CEO Lloyd M. Yates acquired 40,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average cost of $26.44 per share, with a total value of $1,057,600.00. Following the purchase, the chief executive officer now directly owns 131,242 shares of the company’s stock, valued at approximately $3,470,038.48. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Lloyd M. Yates bought 40,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $26.44 per share, for a total transaction of $1,057,600.00. Following the acquisition, the chief executive officer now owns 131,242 shares of the company’s stock, valued at $3,470,038.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald Eugene Brown sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $26.64, for a total transaction of $372,960.00. Following the completion of the sale, the executive vice president now owns 187,278 shares of the company’s stock, valued at approximately $4,989,085.92. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of NiSource from $31.00 to $30.00 in a research note on Wednesday, June 21st. Evercore ISI lowered their price objective on shares of NiSource from $31.00 to $30.00 in a research report on Wednesday, June 21st. StockNews.com downgraded shares of NiSource from a “hold” rating to a “sell” rating in a research report on Friday. Guggenheim lowered their price objective on shares of NiSource from $30.00 to $27.00 in a research report on Monday, October 9th. Finally, Bank of America lowered their price objective on shares of NiSource from $32.00 to $31.00 in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NiSource presently has an average rating of “Moderate Buy” and an average target price of $29.00.

Check Out Our Latest Stock Report on NiSource

NiSource Stock Performance

NI opened at $25.78 on Friday. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.27 and a beta of 0.49. The company has a fifty day moving average of $26.23 and a 200 day moving average of $27.21. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $28.95. 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 (NYSE:NI – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a net margin of 12.00% and a return on equity of 10.90%. During the same period in the previous year, the business posted $0.12 earnings per share. As a group, sell-side analysts forecast that NiSource Inc. will post 1.58 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be paid a $0.25 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.88%. NiSource’s payout ratio is currently 69.44%.

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 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.