Macquarie Group Ltd. decreased its position in NiSource (NYSE:NI) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,200 shares of the utilities provider’s stock after selling 4,700 shares during the quarter. Macquarie Group Ltd.’s holdings in NiSource were worth $215,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Electron Capital Partners LLC acquired a new position in NiSource during the fourth quarter valued at $36,258,000. BlackRock Inc. increased its position in NiSource by 4.6% in the 4th quarter. BlackRock Inc. now owns 24,779,376 shares of the utilities provider’s stock worth $636,086,000 after purchasing an additional 1,093,752 shares during the last quarter. Millennium Management LLC boosted its stake in shares of NiSource by 38.6% during the 4th quarter. Millennium Management LLC now owns 3,591,733 shares of the utilities provider’s stock worth $92,200,000 after acquiring an additional 999,678 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of NiSource by 69.1% during the 4th quarter. Schroder Investment Management Group now owns 2,344,411 shares of the utilities provider’s stock worth $60,181,000 after acquiring an additional 958,344 shares in the last quarter. Finally, Luminus Management LLC bought a new stake in shares of NiSource during the 4th quarter worth about $24,504,000. 86.98% of the stock is currently owned by institutional investors.
NYSE:NI opened at $23.75 on Monday. 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 capitalization of $8,013.51, a P/E ratio of 20.65, a P/E/G ratio of 3.41 and a beta of 0.26. NiSource has a 52-week low of $22.44 and a 52-week high of $27.76.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 18th. Investors of record on Monday, April 30th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, April 27th. NiSource’s dividend payout ratio (DPR) is currently 64.46%.
Several brokerages recently weighed in on NI. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Edward Jones upgraded NiSource from a “hold” rating to a “buy” rating in a research report on Tuesday, January 9th. JPMorgan Chase raised their price objective on NiSource from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 10th. KeyCorp increased their target price on NiSource from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, April 18th. Finally, Goldman Sachs raised NiSource from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $26.55.
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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 to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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