Federated Hermes Inc. Has $217,000 Holdings in NiSource, Inc $NI

Federated Hermes Inc. cut its holdings in NiSource, Inc (NYSE:NI) by 91.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,022 shares of the utilities provider’s stock after selling 52,582 shares during the period. Federated Hermes Inc.’s holdings in NiSource were worth $217,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of NiSource by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 61,422,062 shares of the utilities provider’s stock worth $2,477,766,000 after acquiring an additional 578,061 shares in the last quarter. State Street Corp boosted its position in NiSource by 4.1% during the second quarter. State Street Corp now owns 24,726,001 shares of the utilities provider’s stock worth $997,447,000 after purchasing an additional 965,718 shares during the period. Orion Porfolio Solutions LLC grew its holdings in NiSource by 55,625.2% during the second quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock valued at $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NiSource by 1.0% in the second quarter. Geode Capital Management LLC now owns 12,243,523 shares of the utilities provider’s stock valued at $491,850,000 after purchasing an additional 124,868 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of NiSource by 1.4% in the second quarter. Jennison Associates LLC now owns 11,734,790 shares of the utilities provider’s stock worth $473,381,000 after buying an additional 156,958 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NiSource news, EVP Kimberly S. Cuccia sold 8,000 shares of NiSource stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $43.13, for a total transaction of $345,040.00. Following the sale, the executive vice president directly owned 41,247 shares of the company’s stock, valued at approximately $1,778,983.11. The trade was a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho raised their target price on shares of NiSource from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Wells Fargo & Company lifted their price objective on NiSource from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Jefferies Financial Group upgraded NiSource from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $50.00 in a research note on Friday, October 31st. Barclays set a $45.00 target price on NiSource in a report on Monday, December 8th. Finally, Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.11.

NiSource Price Performance

Shares of NYSE:NI opened at $44.14 on Monday. The firm has a market capitalization of $21.06 billion, a PE ratio of 23.35, a PEG ratio of 3.62 and a beta of 0.65. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 1.29. NiSource, Inc has a 1-year low of $35.64 and a 1-year high of $44.95. The business’s 50 day moving average is $42.55 and its 200-day moving average is $42.51.

NiSource Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Tuesday, February 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. 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. NiSource’s payout ratio is 63.49%.

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.