Sustainable Insight Capital Management LLC increased its position in shares of NiSource Inc. (NYSE:NI – Free Report) by 577.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,153 shares of the utilities provider’s stock after buying an additional 44,453 shares during the quarter. NiSource accounts for 0.8% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Sustainable Insight Capital Management LLC’s holdings in NiSource were worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock valued at $32,000 after buying an additional 527 shares during the period. Capital Performance Advisors LLP bought a new stake in NiSource in the third quarter valued at $33,000. Legacy Investment Solutions LLC acquired a new position in NiSource during the third quarter worth $47,000. Friedenthal Financial bought a new position in shares of NiSource during the third quarter valued at $50,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of NiSource in the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on NI. Jefferies Financial Group initiated coverage on shares of NiSource in a report on Monday, October 28th. They set a “buy” rating and a $39.00 price target for the company. Wells Fargo & Company boosted their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays raised their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Mizuho raised their target price on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, NiSource has an average rating of “Moderate Buy” and a consensus target price of $37.50.
NiSource Price Performance
Shares of NI stock opened at $37.64 on Friday. The firm’s 50 day moving average price is $36.97 and its two-hundred day moving average price is $34.46. The stock has a market cap of $17.57 billion, a PE ratio of 22.81, a PEG ratio of 2.73 and a beta of 0.54. NiSource Inc. has a 52-week low of $24.80 and a 52-week high of $38.83. 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 (NYSE:NI – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, analysts forecast that NiSource Inc. will post 1.73 EPS for the current year.
NiSource Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 3rd will be paid a $0.28 dividend. This is a positive change from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.98%. NiSource’s dividend payout ratio is presently 64.24%.
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.
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