NiSource Inc. (NYSE:NI) Holdings Lowered by Aigen Investment Management LP

Aigen Investment Management LP lowered its stake in NiSource Inc. (NYSE:NIFree Report) by 40.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,497 shares of the utilities provider’s stock after selling 6,540 shares during the quarter. Aigen Investment Management LP’s holdings in NiSource were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of NiSource in the fourth quarter valued at $70,090,000. Franklin Resources Inc. raised its position in NiSource by 27.3% during the fourth quarter. Franklin Resources Inc. now owns 8,525,528 shares of the utilities provider’s stock valued at $226,353,000 after buying an additional 1,826,202 shares during the period. Truist Financial Corp lifted its stake in NiSource by 303.4% in the 4th quarter. Truist Financial Corp now owns 814,955 shares of the utilities provider’s stock worth $21,637,000 after acquiring an additional 612,919 shares in the last quarter. Maple Brown Abbott Ltd boosted its position in NiSource by 25.7% during the 4th quarter. Maple Brown Abbott Ltd now owns 2,786,453 shares of the utilities provider’s stock worth $73,980,000 after acquiring an additional 568,980 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in NiSource during the 3rd quarter valued at about $13,918,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NI. Evercore ISI increased their price target on shares of NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. StockNews.com raised shares of NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $31.00 price target (up from $30.00) on shares of NiSource in a research note on Thursday, May 9th. Finally, Barclays increased their price objective on NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.71.

Check Out Our Latest Stock Analysis on NiSource

Insider Activity

In related news, SVP Melanie B. Berman sold 11,141 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total transaction of $297,019.06. Following the completion of the transaction, the senior vice president now owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by company insiders.

NiSource Trading Down 0.1 %

NiSource stock opened at $28.04 on Monday. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.73 and a beta of 0.49. The company’s fifty day moving average price is $27.88 and its two-hundred day moving average price is $26.76. NiSource Inc. has a one year low of $22.86 and a one year high of $29.44. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56.

NiSource (NYSE:NIGet Free Report) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, analysts forecast that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, July 30th. NiSource’s dividend payout ratio (DPR) is 69.28%.

About NiSource

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NiSource (NYSE:NI)

Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.