NiSource Inc. (NYSE:NI) Shares Acquired by Old North State Wealth Management LLC

Old North State Wealth Management LLC boosted its holdings in NiSource Inc. (NYSE:NI) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,185 shares of the utilities provider’s stock after acquiring an additional 1,269 shares during the quarter. Old North State Wealth Management LLC’s holdings in NiSource were worth $375,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. ING Groep NV acquired a new stake in shares of NiSource in the third quarter valued at approximately $748,000. Thomasville National Bank raised its stake in NiSource by 3.0% during the fourth quarter. Thomasville National Bank now owns 567,196 shares of the utilities provider’s stock valued at $20,850,000 after buying an additional 16,364 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of NiSource by 88.4% during the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after purchasing an additional 6,991,608 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in NiSource by 21.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,712,724 shares of the utilities provider’s stock valued at $99,720,000 after acquiring an additional 483,491 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in shares of NiSource in the third quarter valued at $3,068,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Performance

Shares of NI opened at $37.44 on Wednesday. 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 50 day moving average price of $36.92 and a two-hundred day moving average price of $34.94. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.83. The firm has a market capitalization of $17.47 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.45 and a beta of 0.54.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 3rd will be issued a dividend of $0.28 per share. This is a boost from NiSource’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 2.99%. NiSource’s dividend payout ratio is 64.24%.

Analysts Set New Price Targets

A number of research firms recently commented on NI. Jefferies Financial Group began coverage on NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price objective on the stock. Mizuho raised their price target on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays raised their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NiSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

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.