Everhart Financial Group Inc. raised its position in NiSource Inc. (NYSE:NI – Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,024 shares of the utilities provider’s stock after purchasing an additional 801 shares during the quarter. Everhart Financial Group Inc.’s holdings in NiSource were worth $1,204,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Thomasville National Bank increased its holdings in NiSource by 2.6% in the first quarter. Thomasville National Bank now owns 581,823 shares of the utilities provider’s stock worth $23,325,000 after purchasing an additional 14,627 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of NiSource in the 1st quarter valued at $804,000. My Legacy Advisors LLC lifted its position in shares of NiSource by 3.1% during the 1st quarter. My Legacy Advisors LLC now owns 21,845 shares of the utilities provider’s stock valued at $876,000 after acquiring an additional 655 shares during the period. CX Institutional acquired a new position in shares of NiSource during the 1st quarter valued at $206,000. Finally, Monarch Capital Management Inc. bought a new position in NiSource during the first quarter worth $215,000. 91.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on NI. BMO Capital Markets lifted their target price on shares of NiSource from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on NiSource from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. UBS Group boosted their price objective on NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Mizuho raised their target price on NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Finally, Guggenheim lifted their target price on NiSource from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, NiSource presently has a consensus rating of “Buy” and an average price target of $41.50.
Insider Buying and Selling at NiSource
In other news, Director Michael E. Jesanis sold 4,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total transaction of $152,880.00. Following the sale, the director now directly owns 24,719 shares in the company, valued at $944,760.18. This represents a 13.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Melanie B. Berman sold 6,227 shares of the firm’s stock in a transaction that occurred 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 now owns 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 disclosure for this sale can be found here. Insiders have sold 16,405 shares of company stock valued at $631,939 in the last 90 days. 0.24% of the stock is currently owned by company insiders.
NiSource Stock Up 1.0%
Shares of NYSE NI opened at $39.85 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41. The stock has a market capitalization of $18.76 billion, a PE ratio of 24.60, a P/E/G ratio of 2.56 and a beta of 0.54. NiSource Inc. has a one year low of $27.83 and a one year high of $41.45. The business’s fifty day moving average price is $39.02 and its 200-day moving average price is $38.40.
NiSource (NYSE:NI – Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.32 billion. NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, equities research analysts anticipate that NiSource Inc. will post 1.91 EPS for the current year.
NiSource Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.81%. NiSource’s dividend payout ratio is 60.54%.
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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