Geode Capital Management LLC lifted its holdings in shares of NiSource Inc. (NYSE:NI) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,561,143 shares of the utilities provider’s stock after purchasing an additional 234,175 shares during the period. Geode Capital Management LLC owned about 1.06% of NiSource worth $91,226,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in NI. First Republic Investment Management Inc. increased its stake in NiSource by 15.7% during the 3rd quarter. First Republic Investment Management Inc. now owns 14,300 shares of the utilities provider’s stock valued at $365,000 after purchasing an additional 1,941 shares in the last quarter. GWM Advisors LLC grew its stake in shares of NiSource by 4.3% in the fourth quarter. GWM Advisors LLC now owns 54,505 shares of the utilities provider’s stock worth $1,363,000 after acquiring an additional 2,244 shares during the period. FDx Advisors Inc. grew its stake in shares of NiSource by 25.4% in the fourth quarter. FDx Advisors Inc. now owns 11,615 shares of the utilities provider’s stock worth $298,000 after acquiring an additional 2,353 shares during the period. Stephens Inc. AR grew its stake in shares of NiSource by 20.1% in the third quarter. Stephens Inc. AR now owns 14,158 shares of the utilities provider’s stock worth $362,000 after acquiring an additional 2,370 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in NiSource by 10.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,502 shares of the utilities provider’s stock valued at $678,000 after buying an additional 2,472 shares during the period. 86.96% of the stock is currently owned by institutional investors.
NiSource Inc. (NYSE NI) traded down $0.03 during midday trading on Tuesday, hitting $23.21. The stock had a trading volume of 996,546 shares, compared to its average volume of 3,875,799. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.41 and a current ratio of 0.55. The stock has a market cap of $7,905.54, a price-to-earnings ratio of 59.59, a PEG ratio of 3.31 and a beta of 0.30. NiSource Inc. has a fifty-two week low of $22.44 and a fifty-two week high of $27.76.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were paid a $0.195 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.78 dividend on an annualized basis and a yield of 3.36%. This is a boost from NiSource’s previous quarterly dividend of $0.18. NiSource’s payout ratio is currently 200.01%.
NI has been the topic of several analyst reports. Citigroup lifted their price target on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, November 20th. Edward Jones raised shares of NiSource from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, January 4th. Goldman Sachs upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, January 10th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $27.00 price objective on shares of NiSource in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. NiSource currently has an average rating of “Buy” and a consensus target price of $27.00.
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NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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