NiSource Inc. (NYSE:NI) Shares Acquired by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL raised its position in NiSource Inc. (NYSE:NI) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,331,216 shares of the utilities provider’s stock after buying an additional 11,270 shares during the quarter. NiSource makes up approximately 1.2% of Vaughan David Investments LLC IL’s portfolio, making the stock its 27th biggest position. Vaughan David Investments LLC IL’s holdings in NiSource were worth $48,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NI. Brooklyn Investment Group increased its holdings in shares of NiSource by 153.2% in the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 527 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of NiSource in the third quarter valued at approximately $33,000. Spire Wealth Management acquired a new position in shares of NiSource in the fourth quarter valued at approximately $39,000. Catalyst Capital Advisors LLC acquired a new position in NiSource during the fourth quarter worth $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in NiSource during the third quarter worth $47,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Down 0.3 %

Shares of NYSE:NI opened at $39.94 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. NiSource Inc. has a 52-week low of $25.59 and a 52-week high of $40.29. The stock’s fifty day simple moving average is $37.49 and its 200-day simple moving average is $35.73. The company has a market capitalization of $18.77 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.56 and a beta of 0.54.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, equities research analysts forecast that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.80%. NiSource’s dividend payout ratio is currently 69.14%.

Insiders Place Their Bets

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the sale, the chief accounting officer now owns 24,758 shares in the company, valued at $988,339.36. This trade represents a 18.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NI shares. Mizuho upped their price objective on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group initiated coverage on NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource has an average rating of “Buy” and an average target price of $38.13.

About NiSource

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.