NiSource Inc. (NYSE:NI) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of NiSource Inc. (NYSE:NI) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,033,754 shares of the utilities provider’s stock after acquiring an additional 33,671 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of NiSource worth $38,001,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Cetera Investment Advisers grew its position in NiSource by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 69,397 shares of the utilities provider’s stock worth $1,999,000 after purchasing an additional 671 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in NiSource by 575.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,400 shares of the utilities provider’s stock worth $187,000 after buying an additional 4,600 shares in the last quarter. Thomasville National Bank grew its holdings in NiSource by 925.4% in the 3rd quarter. Thomasville National Bank now owns 550,832 shares of the utilities provider’s stock worth $19,086,000 after buying an additional 497,113 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in NiSource in the 3rd quarter valued at approximately $315,000. Finally, B.O.S.S. Retirement Advisors LLC raised its stake in NiSource by 2.7% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 64,345 shares of the utilities provider’s stock valued at $2,230,000 after acquiring an additional 1,712 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NI shares. Wells Fargo & Company increased their price target on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays increased their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of NiSource in a research note on Monday, October 28th. They issued a “buy” rating and a $39.00 price target for the company. Mizuho raised their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.50.

NiSource Trading Up 0.4 %

Shares of NYSE:NI opened at $38.07 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The stock has a market capitalization of $17.77 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.50 and a beta of 0.54. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.83. The company has a 50 day moving average price of $36.93 and a 200 day moving average price of $35.14.

NiSource Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from NiSource’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 3rd. NiSource’s payout ratio is presently 67.88%.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.