Cipher Capital LP boosted its position in shares of NiSource, Inc (NYSE:NI) by 64.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,343 shares of the company’s stock after buying an additional 75,747 shares during the period. Cipher Capital LP owned 0.06% of NiSource worth $4,280,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in NI. ING Groep NV raised its stake in shares of NiSource by 116.9% in the fourth quarter. ING Groep NV now owns 34,587 shares of the company’s stock worth $845,000 after buying an additional 18,640 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of NiSource by 87.7% in the second quarter. Engineers Gate Manager LP now owns 219,617 shares of the company’s stock worth $5,824,000 after buying an additional 102,594 shares in the last quarter. Bank of Nova Scotia purchased a new stake in shares of NiSource during the second quarter worth about $5,935,000. Reaves W H & Co. Inc. raised its stake in shares of NiSource by 1.2% in the second quarter. Reaves W H & Co. Inc. now owns 1,452,854 shares of the company’s stock worth $38,530,000 after buying an additional 17,842 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in shares of NiSource by 19.4% in the second quarter. Hennessy Advisors Inc. now owns 1,445,131 shares of the company’s stock worth $38,325,000 after buying an additional 235,000 shares in the last quarter. 83.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NiSource, Inc (NYSE:NI) traded up 0.81% on Friday, hitting $22.41. The stock had a trading volume of 2,713,930 shares. The company has a 50-day moving average of $22.21 and a 200 day moving average of $23.07. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 23.82 and a beta of 0.29. NiSource, Inc has a 52 week low of $20.88 and a 52 week high of $26.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, February 10th will be paid a dividend of $0.175 per share. This is an increase from NiSource’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, February 8th. NiSource’s dividend payout ratio is 76.09%.
A number of research firms have weighed in on NI. US Capital Advisors upgraded NiSource from a “hold” rating to a “buy” rating in a research note on Wednesday, November 30th. Guggenheim upgraded NiSource from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. Evercore ISI upgraded NiSource from a “sell” rating to a “hold” rating in a research note on Wednesday, November 2nd. Citigroup Inc. upgraded NiSource from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 14th. Finally, Zacks Investment Research downgraded NiSource from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. NiSource currently has a consensus rating of “Hold” and a consensus price target of $24.86.
In other news, EVP Pablo Vegas purchased 21,541 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were acquired at an average cost of $21.75 per share, with a total value of $468,516.75. Following the purchase, the executive vice president now owns 71,397 shares in the company, valued at $1,552,884.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Jesanis purchased 12,000 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were purchased at an average cost of $22.53 per share, for a total transaction of $270,360.00. Following the completion of the purchase, the director now owns 26,725 shares in the company, valued at approximately $602,114.25. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by corporate insiders.
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 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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