Jacobi Capital Management LLC Takes $242,000 Position in NiSource Inc. (NYSE:NI)

Jacobi Capital Management LLC acquired a new stake in NiSource Inc. (NYSE:NI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,592 shares of the utilities provider’s stock, valued at approximately $242,000.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in NiSource by 249.6% in the third quarter. International Assets Investment Management LLC now owns 30,908 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 22,066 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in NiSource by 5.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,576 shares of the utilities provider’s stock valued at $1,025,000 after buying an additional 1,479 shares in the last quarter. US Bancorp DE raised its stake in NiSource by 8.9% in the third quarter. US Bancorp DE now owns 35,907 shares of the utilities provider’s stock valued at $1,244,000 after buying an additional 2,926 shares in the last quarter. Farther Finance Advisors LLC raised its stake in NiSource by 12.0% in the third quarter. Farther Finance Advisors LLC now owns 3,442 shares of the utilities provider’s stock valued at $119,000 after buying an additional 369 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in NiSource in the third quarter valued at $303,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Stock Performance

Shares of NI stock opened at $41.24 on Tuesday. The stock’s 50-day moving average is $37.93 and its two-hundred day moving average is $36.04. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 2.56 and a beta of 0.54. NiSource Inc. has a 1 year low of $25.98 and a 1 year high of $41.30. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the previous year, the business posted $0.53 EPS. Analysts predict that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from NiSource’s previous quarterly dividend of $0.27. NiSource’s dividend payout ratio (DPR) is currently 69.14%.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price objective on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $38.13.

Insider Buying and Selling

In related news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

NiSource Profile

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.