Tema Etfs LLC Takes $414,000 Position in NiSource Inc. (NYSE:NI)

Tema Etfs LLC bought a new stake in NiSource Inc. (NYSE:NI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,256 shares of the utilities provider’s stock, valued at approximately $414,000.

A number of other institutional investors have also modified their holdings of NI. Barclays PLC raised its stake in shares of NiSource by 25.3% in the 3rd quarter. Barclays PLC now owns 1,352,182 shares of the utilities provider’s stock valued at $46,852,000 after purchasing an additional 273,159 shares in the last quarter. JPMorgan Chase & Co. raised its stake in NiSource by 88.4% during the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock worth $516,373,000 after acquiring an additional 6,991,608 shares during the period. Park Avenue Securities LLC raised its stake in NiSource by 1.5% during the fourth quarter. Park Avenue Securities LLC now owns 32,293 shares of the utilities provider’s stock worth $1,187,000 after acquiring an additional 464 shares during the period. Wedge Capital Management L L P NC raised its stake in NiSource by 1.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 208,877 shares of the utilities provider’s stock worth $7,678,000 after acquiring an additional 3,306 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in NiSource during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Wells Fargo & Company increased their price objective on shares of NiSource from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Guggenheim increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Mizuho increased their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $41.50.

Insider Activity at NiSource

In related news, Director Michael E. Jesanis sold 6,178 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the transaction, the director now owns 18,541 shares in the company, valued at $701,035.21. This trade represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

NiSource Price Performance

Shares of NYSE:NI opened at $39.09 on Monday. The firm’s 50 day moving average is $39.07 and its two-hundred day moving average is $38.03. NiSource Inc. has a 52 week low of $27.60 and a 52 week high of $41.45. The firm has a market capitalization of $18.40 billion, a P/E ratio of 24.13, a PEG ratio of 2.56 and a beta of 0.53. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.32 billion. NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same quarter last year, the business earned $0.85 earnings per share. Analysts anticipate that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, July 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.87%. NiSource’s dividend payout ratio is presently 60.54%.

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.