Retirement Systems of Alabama Buys 3,062 Shares of NiSource Inc. (NYSE:NI)

Retirement Systems of Alabama increased its position in shares of NiSource Inc. (NYSE:NI) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 886,449 shares of the utilities provider’s stock after purchasing an additional 3,062 shares during the quarter. Retirement Systems of Alabama’s holdings in NiSource were worth $32,586,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in shares of NiSource by 153.2% during the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 527 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of NiSource in the 3rd quarter valued at $33,000. Spire Wealth Management bought a new position in shares of NiSource in the 4th quarter valued at $39,000. Legacy Investment Solutions LLC acquired a new position in shares of NiSource during the 3rd quarter worth $47,000. Finally, Friedenthal Financial bought a new stake in shares of NiSource during the 3rd quarter worth $50,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Price Performance

Shares of NYSE:NI opened at $38.17 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.83. The firm has a market cap of $17.81 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.45 and a beta of 0.54. The firm’s fifty day moving average is $36.92 and its 200-day moving average is $34.96.

NiSource Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, February 3rd. This is an increase from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.93%. NiSource’s payout ratio is presently 64.24%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NI shares. Barclays lifted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Mizuho lifted their price target on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of NiSource in a research note on Monday, October 28th. They set a “buy” rating and a $39.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, NiSource currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.