Moody National Bank Trust Division cut its stake in shares of NiSource Inc. (NYSE:NI – Get Rating) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,741 shares of the utilities provider’s stock after selling 4,613 shares during the period. Moody National Bank Trust Division’s holdings in NiSource were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of NiSource during the fourth quarter valued at approximately $1,676,000. BNP Paribas Arbitrage SA grew its stake in shares of NiSource by 50.4% during the third quarter. BNP Paribas Arbitrage SA now owns 349,807 shares of the utilities provider’s stock valued at $8,476,000 after buying an additional 117,149 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of NiSource during the fourth quarter valued at approximately $3,108,000. Adage Capital Partners GP L.L.C. grew its stake in shares of NiSource by 45.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 798,462 shares of the utilities provider’s stock valued at $22,046,000 after buying an additional 248,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of NiSource by 41.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,381,731 shares of the utilities provider’s stock valued at $65,760,000 after buying an additional 701,468 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE NI opened at $27.39 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $11.11 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.35. The stock’s fifty day simple moving average is $30.12 and its two-hundred day simple moving average is $29.27. NiSource Inc. has a 12-month low of $23.65 and a 12-month high of $32.58.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, July 29th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.94 annualized dividend and a yield of 3.43%. NiSource’s dividend payout ratio (DPR) is presently 61.44%.
A number of research analysts have recently commented on the company. Credit Suisse Group began coverage on NiSource in a research note on Monday, April 25th. They set a “neutral” rating and a $32.00 target price on the stock. Wells Fargo & Company increased their price objective on NiSource from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. Finally, StockNews.com began coverage on NiSource in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.40.
NiSource Company Profile (Get Rating)
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 853,000 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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