Raymond James Trust N.A. Invests $275,000 in NiSource Inc. (NYSE:NI)

Raymond James Trust N.A. purchased a new position in NiSource Inc. (NYSE:NIGet Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,957 shares of the utilities provider’s stock, valued at approximately $275,000.

A number of other large investors also recently made changes to their positions in NI. Stonebridge Financial Planning Group LLC grew its position in NiSource by 400.0% in the third quarter. Stonebridge Financial Planning Group LLC now owns 1,000 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 800 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in NiSource in the third quarter worth $25,000. Amplius Wealth Advisors LLC purchased a new position in NiSource in the fourth quarter worth $28,000. Capital Directions Investment Advisors LLC purchased a new position in NiSource in the third quarter worth $73,000. Finally, Reilly Financial Advisors LLC purchased a new position in NiSource in the fourth quarter worth $75,000. Institutional investors own 96.85% of the company’s stock.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating and set a $33.00 target price for the company in a research report on Friday, April 1st. StockNews.com assumed coverage on shares of NiSource in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet upgraded shares of NiSource from a “c” rating to a “b-” rating in a research report on Monday, December 20th. UBS Group lowered shares of NiSource from a “buy” rating to a “neutral” rating and upped their price target for the company from $29.00 to $31.00 in a research report on Tuesday, February 15th. Finally, Evercore ISI upgraded shares of NiSource from an “in-line” rating to an “outperform” rating and upped their price target for the company from $27.00 to $30.00 in a research report on Tuesday, January 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Buy” and a consensus target price of $30.33.

NiSource stock opened at $32.05 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.52 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average of $29.85 and a 200-day moving average of $27.31. The firm has a market cap of $12.99 billion, a P/E ratio of 24.47, a P/E/G ratio of 3.09 and a beta of 0.32. NiSource Inc. has a 1-year low of $23.48 and a 1-year high of $32.58.

NiSource (NYSE:NIGet Rating) last posted its earnings results on Wednesday, February 23rd. The utilities provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. NiSource had a net margin of 11.94% and a return on equity of 11.61%. During the same period in the prior year, the business posted $0.34 earnings per share. Research analysts forecast that NiSource Inc. will post 1.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Friday, April 29th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.93%. NiSource’s dividend payout ratio is currently 71.76%.

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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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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