Reaves W H & Co. Inc. Acquires 1,287,745 Shares of NiSource, Inc $NI

Reaves W H & Co. Inc. grew its stake in shares of NiSource, Inc (NYSE:NI) by 34.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,009,644 shares of the utilities provider’s stock after acquiring an additional 1,287,745 shares during the quarter. NiSource comprises about 3.9% of Reaves W H & Co. Inc.’s holdings, making the stock its 7th largest position. Reaves W H & Co. Inc. owned 1.05% of NiSource worth $216,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NI. Crewe Advisors LLC raised its stake in NiSource by 90.7% during the second quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 304 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of NiSource by 2,668.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 692 shares of the utilities provider’s stock worth $28,000 after buying an additional 667 shares during the last quarter. Country Trust Bank purchased a new position in shares of NiSource in the 2nd quarter worth $28,000. Ameritas Advisory Services LLC purchased a new position in shares of NiSource in the 2nd quarter worth $32,000. Finally, REAP Financial Group LLC acquired a new position in NiSource in the third quarter valued at $32,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NiSource news, EVP Kimberly S. Cuccia sold 8,000 shares of the firm’s 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 completion of the sale, the executive vice president owned 41,247 shares in the company, valued at $1,778,983.11. This trade represents a 16.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

NiSource Price Performance

NI opened at $44.48 on Tuesday. NiSource, Inc has a twelve month low of $35.64 and a twelve month high of $44.95. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 23.54, 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. The company has a fifty day simple moving average of $42.58 and a 200 day simple moving average of $42.53.

NiSource Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 3rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. This is a positive change from NiSource’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, February 3rd. NiSource’s payout ratio is presently 63.49%.

Wall Street Analysts Forecast Growth

NI has been the subject of several research analyst reports. Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Mizuho increased their target price on shares of NiSource from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 3rd. Jefferies Financial Group upgraded shares of NiSource from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $50.00 in a report on Friday, October 31st. Barclays set a $45.00 price objective on shares of NiSource in a research note on Monday, December 8th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $49.00 target price on shares of NiSource in a research note on Thursday, January 29th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.11.

About NiSource

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.