Northern Trust Corp Boosts Stake in NiSource Inc. (NYSE:NI)
Northern Trust Corp boosted its stake in NiSource Inc. (NYSE:NI) by 0.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,605,552 shares of the utilities provider’s stock after buying an additional 18,006 shares during the quarter. Northern Trust Corp owned approximately 1.23% of NiSource worth $132,640,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of NI. Panagora Asset Management Inc. lifted its stake in shares of NiSource by 18.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 141,516 shares of the utilities provider’s stock worth $4,076,000 after purchasing an additional 22,155 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of NiSource during the 1st quarter worth $200,000. Marshall Wace LLP purchased a new position in shares of NiSource during the 1st quarter worth $2,511,000. Dimensional Fund Advisors LP lifted its stake in shares of NiSource by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,475,444 shares of the utilities provider’s stock worth $37,404,000 after purchasing an additional 74,548 shares during the period. Finally, Tiverton Asset Management LLC lifted its stake in shares of NiSource by 19.5% during the 2nd quarter. Tiverton Asset Management LLC now owns 66,175 shares of the utilities provider’s stock worth $1,906,000 after purchasing an additional 10,779 shares during the period. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NI traded down $0.10 during trading hours on Friday, hitting $29.01. The stock had a trading volume of 67,714 shares, compared to its average volume of 2,756,447. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.33 and a current ratio of 0.41. The firm has a market cap of $10.92 billion, a P/E ratio of 22.33, a P/E/G ratio of 4.14 and a beta of 0.23. The company’s fifty day simple moving average is $29.28 and its 200 day simple moving average is $28.51. NiSource Inc. has a 12-month low of $24.19 and a 12-month high of $30.34.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.80 annualized dividend and a yield of 2.76%. NiSource’s dividend payout ratio is currently 61.54%.
A number of research analysts have weighed in on the company. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, July 24th. Wolfe Research lowered NiSource from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Zacks Investment Research lowered NiSource from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Wednesday, May 29th. Finally, Credit Suisse Group lowered NiSource from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. NiSource has a consensus rating of “Hold” and an average target price of $28.32.
In related news, VP Joseph W. Mulpas sold 12,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $29.78, for a total value of $357,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carrie J. Hightman sold 22,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $29.96, for a total value of $659,120.00. Following the completion of the sale, the executive vice president now owns 329,207 shares of the company’s stock, valued at $9,863,041.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,405 shares of company stock valued at $2,768,990. 0.35% of the stock is owned by insiders.
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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