Amalgamated Bank Has $3.49 Million Position in NiSource Inc. (NYSE:NI)

Amalgamated Bank cut its holdings in shares of NiSource Inc. (NYSE:NI) by 3.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 131,553 shares of the utilities provider’s stock after selling 4,355 shares during the period. Amalgamated Bank’s holdings in NiSource were worth $3,493,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in NiSource during the fourth quarter worth about $36,000. Lindbrook Capital LLC raised its stake in shares of NiSource by 46.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 491 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of NiSource by 82.5% in the 3rd quarter. Allworth Financial LP now owns 2,179 shares of the utilities provider’s stock valued at $54,000 after buying an additional 985 shares during the last quarter. Sentry Investment Management LLC bought a new position in shares of NiSource in the third quarter valued at $55,000. Finally, Tobam increased its holdings in NiSource by 3,994.6% during the fourth quarter. Tobam now owns 2,293 shares of the utilities provider’s stock worth $61,000 after buying an additional 2,237 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Trading Up 0.6 %

Shares of NYSE:NI opened at $28.90 on Friday. NiSource Inc. has a 12-month low of $22.86 and a 12-month high of $29.17. The business has a 50 day moving average of $27.41 and a 200-day moving average of $26.46. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 1.15. The stock has a market cap of $12.95 billion, a PE ratio of 19.66, a P/E/G ratio of 2.78 and a beta of 0.49.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. NiSource had a return on equity of 10.10% and a net margin of 12.98%. During the same period in the prior year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that NiSource Inc. will post 1.71 earnings per share for the current year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, April 29th. NiSource’s dividend payout ratio (DPR) is 72.11%.

Insider Buying and Selling at NiSource

In other news, SVP Melanie B. Berman sold 11,141 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total transaction of $297,019.06. Following the transaction, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at $632,375.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays increased their price target on shares of NiSource from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $31.00 price target (up previously from $30.00) on shares of NiSource in a report on Thursday. StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, Evercore ISI raised their price objective on NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.43.

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.