Envestnet Asset Management Inc. boosted its stake in NiSource, Inc (NYSE:NI – Free Report) by 21.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 647,519 shares of the utilities provider’s stock after buying an additional 116,213 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of NiSource worth $25,959,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Post Corp Registered Pension Plan acquired a new position in shares of NiSource during the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of NiSource by 64.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 299 shares in the last quarter. Quent Capital LLC grew its position in shares of NiSource by 44.7% during the 1st quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 310 shares in the last quarter. Optiver Holding B.V. grew its position in shares of NiSource by 105.0% during the 4th quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 656 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new position in shares of NiSource during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
NiSource Price Performance
NI stock opened at $39.95 on Tuesday. The company has a fifty day moving average price of $39.36 and a 200-day moving average price of $38.82. The company has a market capitalization of $18.80 billion, a P/E ratio of 21.59, a PEG ratio of 2.68 and a beta of 0.54. NiSource, Inc has a 52-week low of $29.67 and a 52-week high of $41.45. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.45 and a current ratio of 0.52.
NiSource Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource’s dividend payout ratio is presently 60.54%.
Analyst Ratings Changes
NI has been the subject of several research reports. Mizuho increased their price objective on shares of NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. BMO Capital Markets increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective on shares of NiSource from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, Barclays increased their price objective on shares of NiSource from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $41.50.
Check Out Our Latest Analysis on NI
Insiders Place Their Bets
In related news, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the completion of the transaction, the executive vice president owned 28,882 shares of the company’s stock, valued at $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total transaction of $233,590.18. Following the completion of the sale, the director owned 18,541 shares of the company’s stock, valued at $701,035.21. The trade was a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,405 shares of company stock valued at $631,939 in the last three months. 0.24% of the stock is owned by insiders.
NiSource 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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