Centennial Wealth Advisory LLC reduced its holdings in shares of NiSource, Inc (NYSE:NI – Free Report) by 19.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,673 shares of the utilities provider’s stock after selling 3,879 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in NiSource were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. Johnson Investment Counsel Inc. lifted its stake in NiSource by 2.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 16,680 shares of the utilities provider’s stock valued at $669,000 after acquiring an additional 415 shares during the period. State of Alaska Department of Revenue grew its stake in shares of NiSource by 3.5% in the first quarter. State of Alaska Department of Revenue now owns 55,071 shares of the utilities provider’s stock worth $2,207,000 after acquiring an additional 1,855 shares during the period. LifeWealth Investments LLC raised its holdings in shares of NiSource by 7.1% during the first quarter. LifeWealth Investments LLC now owns 10,422 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 689 shares during the last quarter. Patton Fund Management Inc. bought a new position in NiSource during the first quarter valued at approximately $4,277,000. Finally, QRG Capital Management Inc. lifted its position in NiSource by 35.5% during the first quarter. QRG Capital Management Inc. now owns 24,739 shares of the utilities provider’s stock valued at $992,000 after purchasing an additional 6,477 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.
NiSource Stock Performance
Shares of NI opened at $39.26 on Thursday. The business has a 50-day simple moving average of $39.15 and a two-hundred day simple moving average of $38.43. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. NiSource, Inc has a 52 week low of $28.08 and a 52 week high of $41.45. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.66 and a beta of 0.54.
NiSource Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource’s dividend payout ratio (DPR) is 60.54%.
Wall Street Analyst Weigh In
NI has been the subject of a number of research reports. Barclays boosted their target price on shares of NiSource from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective on NiSource from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. BMO Capital Markets increased their target price on NiSource from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, April 28th. UBS Group raised their target price on NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of NiSource from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $41.50.
Read Our Latest Research Report on NiSource
Insider Buying and Selling
In related news, Director Michael E. Jesanis sold 6,178 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the transaction, the director now directly owns 18,541 shares of the company’s stock, valued at approximately $701,035.21. The trade was a 24.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie B. Berman sold 6,227 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the sale, the executive vice president now directly owns 28,882 shares of the company’s stock, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,405 shares of company stock valued at $631,939. Company insiders own 0.24% of the company’s stock.
NiSource Company 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.
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