Harwood Advisory Group LLC raised its stake in NiSource Inc. (NYSE:NI) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,042 shares of the utilities provider’s stock after buying an additional 1,762 shares during the period. Harwood Advisory Group LLC’s holdings in NiSource were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in NI. Geode Capital Management LLC increased its stake in NiSource by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 4,703,532 shares of the utilities provider’s stock worth $119,026,000 after acquiring an additional 363,894 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 74,548 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in NiSource during the 1st quarter worth $342,000. AMG National Trust Bank bought a new position in NiSource during the 1st quarter worth $220,000. Finally, LS Investment Advisors LLC increased its stake in NiSource by 199.0% during the 1st quarter. LS Investment Advisors LLC now owns 48,243 shares of the utilities provider’s stock worth $1,383,000 after acquiring an additional 32,106 shares during the period. 94.39% of the stock is owned by institutional investors.
Shares of NI stock traded down $0.62 during trading hours on Friday, reaching $29.02. The company’s stock had a trading volume of 1,658,592 shares, compared to its average volume of 4,362,007. The firm’s 50 day simple moving average is $29.25 and its 200-day simple moving average is $28.25. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 4.23 and a beta of 0.23. NiSource Inc. has a fifty-two week low of $24.19 and a fifty-two week high of $30.34. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.40.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is 61.54%.
In related news, Director Michael E. Jesanis sold 4,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $29.96, for a total transaction of $119,840.00. Following the sale, the director now owns 38,997 shares of the company’s stock, valued at approximately $1,168,350.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Violet Sistovaris sold 40,405 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $29.16, for a total value of $1,178,209.80. Following the sale, the executive vice president now directly owns 105,927 shares in the company, valued at approximately $3,088,831.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,405 shares of company stock worth $2,768,990. 0.35% of the stock is currently owned by company insiders.
A number of equities analysts have commented on NI shares. Credit Suisse Group lowered NiSource from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. TheStreet upgraded NiSource from a “c+” rating to a “b-” rating in a research note on Monday, May 13th. Zacks Investment Research lowered NiSource from a “hold” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, May 29th. Wolfe Research lowered NiSource from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Finally, Argus upgraded NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.32.
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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