Nomura Asset Management Co. Ltd. lifted its holdings in NiSource Inc. (NYSE:NI) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,558 shares of the utilities provider’s stock after acquiring an additional 3,373 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in NiSource were worth $1,994,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in NI. Flagship Harbor Advisors LLC boosted its stake in shares of NiSource by 173.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 1,031 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 654 shares during the period. Pearl River Capital LLC purchased a new position in NiSource in the fourth quarter worth approximately $35,000. Lindbrook Capital LLC purchased a new position in NiSource in the fourth quarter worth approximately $38,000. Harvest Group Wealth Management LLC purchased a new position in NiSource in the first quarter worth approximately $52,000. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in NiSource by 40.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,286 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 654 shares during the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.
Shares of NiSource stock traded up $0.19 on Friday, hitting $28.80. The company’s stock had a trading volume of 2,460,207 shares, compared to its average volume of 2,867,256. The stock has a market cap of $10.69 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.73 and a beta of 0.25. The company has a quick ratio of 0.42, a current ratio of 0.48 and a debt-to-equity ratio of 1.45. The business has a fifty day moving average of $28.45. NiSource Inc. has a 52-week low of $24.19 and a 52-week high of $29.75.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.78%. NiSource’s dividend payout ratio (DPR) is 61.54%.
Several brokerages have recently weighed in on NI. Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. ValuEngine raised shares of NiSource from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Goldman Sachs Group raised shares of NiSource from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $26.00 to $29.00 in a research note on Monday, April 8th. Bank of America cut shares of NiSource from a “buy” rating to a “neutral” rating and set a $27.37 price objective on the stock. in a research note on Monday, April 22nd. Finally, TheStreet raised shares of NiSource from a “c+” rating to a “b-” rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.87.
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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