Massachusetts Financial Services Co. MA decreased its holdings in shares of NiSource Inc. (NYSE:NI) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,635,122 shares of the utilities provider’s stock after selling 695,895 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.00% of NiSource worth $90,587,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of NiSource by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,175,962 shares of the utilities provider’s stock valued at $28,117,000 after acquiring an additional 5,352 shares during the last quarter. LPL Financial LLC boosted its position in shares of NiSource by 150.3% during the 1st quarter. LPL Financial LLC now owns 42,468 shares of the utilities provider’s stock valued at $1,015,000 after acquiring an additional 25,498 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of NiSource during the 1st quarter valued at about $280,000. Park National Corp OH boosted its position in shares of NiSource by 50.2% during the 2nd quarter. Park National Corp OH now owns 43,158 shares of the utilities provider’s stock valued at $1,134,000 after acquiring an additional 14,415 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in shares of NiSource by 8.1% during the 2nd quarter. DnB Asset Management AS now owns 42,500 shares of the utilities provider’s stock valued at $1,117,000 after acquiring an additional 3,200 shares during the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.
NYSE NI opened at $25.88 on Wednesday. NiSource Inc. has a 12 month low of $22.44 and a 12 month high of $28.11. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.38 and a current ratio of 0.51. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 3.69 and a beta of 0.17.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.78 dividend on an annualized basis and a yield of 3.01%. NiSource’s dividend payout ratio (DPR) is presently 64.46%.
Several research analysts have recently weighed in on the stock. Guggenheim cut shares of NiSource from a “buy” rating to a “neutral” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, July 3rd. Barclays assumed coverage on shares of NiSource in a research report on Tuesday, July 10th. They set an “equal weight” rating and a $27.00 price target on the stock. KeyCorp boosted their price target on shares of NiSource from $26.00 to $27.00 and gave the company a “$26.15” rating in a research report on Thursday, July 19th. Finally, Bank of America reissued a “buy” rating and set a $28.00 price target on shares of NiSource in a research report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. NiSource has an average rating of “Hold” and a consensus price target of $27.00.
In other NiSource news, CFO Donald Eugene Brown sold 2,400 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total transaction of $63,600.00. Following the sale, the chief financial officer now directly owns 49,167 shares in the company, valued at $1,302,925.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carrie J. Hightman sold 27,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $26.75, for a total transaction of $722,250.00. Following the sale, the executive vice president now owns 325,066 shares in the company, valued at $8,695,515.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate 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 to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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