Y Intercept Hong Kong Ltd Trims Position in NiSource, Inc $NI

Y Intercept Hong Kong Ltd trimmed its position in shares of NiSource, Inc (NYSE:NI) by 63.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,159 shares of the utilities provider’s stock after selling 24,060 shares during the period. Y Intercept Hong Kong Ltd’s holdings in NiSource were worth $613,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Verdence Capital Advisors LLC raised its holdings in NiSource by 1.7% during the third quarter. Verdence Capital Advisors LLC now owns 14,319 shares of the utilities provider’s stock valued at $626,000 after acquiring an additional 245 shares during the period. Mark Sheptoff Financial Planning LLC grew its position in shares of NiSource by 4.5% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 5,750 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 250 shares in the last quarter. Bank of Nova Scotia raised its stake in NiSource by 0.5% during the 2nd quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock valued at $1,986,000 after purchasing an additional 266 shares during the period. Shepherd Financial Partners LLC raised its stake in NiSource by 3.9% during the 2nd quarter. Shepherd Financial Partners LLC now owns 7,656 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 285 shares during the period. Finally, Crewe Advisors LLC lifted its holdings in NiSource by 90.7% in the 2nd quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 304 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

NiSource Trading Down 0.3%

NI opened at $43.92 on Wednesday. NiSource, Inc has a 12 month low of $35.64 and a 12 month high of $44.95. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average of $42.54 and a 200 day moving average of $42.47. The firm has a market cap of $20.96 billion, a P/E ratio of 23.24, a P/E/G ratio of 3.61 and a beta of 0.65.

NiSource Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Tuesday, February 3rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 3rd. This is a positive change from NiSource’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.7%. NiSource’s payout ratio is presently 59.26%.

Insider Buying and Selling

In other NiSource news, EVP Kimberly S. Cuccia sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $43.13, for a total transaction of $345,040.00. Following the transaction, the executive vice president owned 41,247 shares in the company, valued at $1,778,983.11. The trade was a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $49.00 price objective on shares of NiSource in a report on Thursday, January 29th. UBS Group raised their target price on shares of NiSource from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Evercore ISI lifted their price target on shares of NiSource from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Thursday, October 30th. Mizuho increased their price objective on shares of NiSource from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.11.

NiSource Company Profile

NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.