Oppenheimer Asset Management Inc. decreased its position in NiSource Inc. (NYSE:NI) by 43.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,987 shares of the utilities provider’s stock after selling 20,822 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in NiSource were worth $685,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of NiSource in the 2nd quarter valued at $110,000. Bank of New York Mellon Corp increased its stake in shares of NiSource by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,402,899 shares of the utilities provider’s stock valued at $89,429,000 after buying an additional 45,713 shares during the period. DNB Asset Management AS increased its stake in shares of NiSource by 198.1% in the 3rd quarter. DNB Asset Management AS now owns 126,700 shares of the utilities provider’s stock valued at $3,157,000 after buying an additional 84,200 shares during the period. MAI Capital Management acquired a new stake in shares of NiSource in the 3rd quarter valued at $327,000. Finally, Bank of Montreal Can increased its stake in shares of NiSource by 28.6% in the 3rd quarter. Bank of Montreal Can now owns 642,805 shares of the utilities provider’s stock valued at $16,019,000 after buying an additional 143,120 shares during the period. Hedge funds and other institutional investors own 91.01% of the company’s stock.
NYSE:NI opened at $26.58 on Monday. NiSource Inc. has a 12-month low of $22.49 and a 12-month high of $28.11. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.26 and a current ratio of 0.40. The firm has a market capitalization of $9.83 billion, a PE ratio of 21.97, a P/E/G ratio of 3.36 and a beta of 0.28.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 20th. Stockholders of record on Monday, February 11th will be given a $0.20 dividend. This is a positive change from NiSource’s previous quarterly dividend of $0.20. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, February 8th. NiSource’s dividend payout ratio (DPR) is currently 66.12%.
NI has been the subject of several research reports. ValuEngine raised NiSource from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Mizuho cut NiSource from a “buy” rating to a “neutral” rating in a research note on Friday, October 19th. Goldman Sachs Group cut NiSource from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. KeyCorp lifted their target price on NiSource from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Finally, Guggenheim raised NiSource from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. NiSource has an average rating of “Hold” and a consensus target price of $27.85.
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NiSource Company Profile
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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