Guggenheim Capital LLC Boosts Stake in NiSource Inc. (NYSE:NI)

Guggenheim Capital LLC boosted its position in shares of NiSource Inc. (NYSE:NI) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 526,307 shares of the utilities provider’s stock after buying an additional 18,942 shares during the period. Guggenheim Capital LLC owned approximately 0.11% of NiSource worth $19,347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NI. Canada Post Corp Registered Pension Plan purchased a new position in shares of NiSource in the fourth quarter valued at $27,000. Brooklyn Investment Group lifted its position in NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 527 shares during the last quarter. Spire Wealth Management purchased a new position in shares of NiSource in the 4th quarter worth $39,000. Catalyst Capital Advisors LLC bought a new stake in shares of NiSource in the 4th quarter worth about $40,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of NiSource during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Price Performance

Shares of NI stock opened at $39.45 on Wednesday. The stock has a 50 day moving average price of $39.23 and a 200 day moving average price of $37.30. NiSource Inc. has a 52-week low of $26.26 and a 52-week high of $41.45. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. The firm has a market capitalization of $18.56 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.56 and a beta of 0.48.

NiSource (NYSE:NI) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the prior year, the company earned $0.53 EPS. As a group, sell-side analysts predict that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, April 30th. NiSource’s dividend payout ratio (DPR) is presently 69.14%.

Insider Activity

In other news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

NI has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group boosted their target price on NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, Mizuho increased their price target on NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NiSource presently has a consensus rating of “Buy” and a consensus target price of $39.33.

About NiSource

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.