NiSource Inc. (NYSE:NI) Shares Purchased by Morton Community Bank

Morton Community Bank lifted its position in NiSource Inc. (NYSE:NI) by 1.6% in the fourth quarter, Holdings Channel reports. The firm owned 114,925 shares of the utilities provider’s stock after acquiring an additional 1,820 shares during the period. NiSource accounts for approximately 1.1% of Morton Community Bank’s holdings, making the stock its 22nd biggest position. Morton Community Bank’s holdings in NiSource were worth $4,225,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NI. Brooklyn Investment Group lifted its position in NiSource by 153.2% during the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 527 shares during the period. Capital Performance Advisors LLP acquired a new stake in NiSource during the 3rd quarter worth approximately $33,000. Spire Wealth Management acquired a new stake in NiSource during the 4th quarter worth approximately $39,000. Catalyst Capital Advisors LLC acquired a new stake in NiSource during the 4th quarter worth approximately $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in NiSource during the 3rd quarter worth approximately $47,000. 91.64% of the stock is owned by institutional investors and hedge funds.

NiSource Stock Down 0.4 %

NI opened at $38.44 on Monday. NiSource Inc. has a 12 month low of $26.04 and a 12 month high of $41.44. The stock has a market capitalization of $18.06 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.56 and a beta of 0.50. The business has a 50 day simple moving average of $38.11 and a 200-day simple moving average of $36.23. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share 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. On average, equities analysts anticipate that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were paid a $0.28 dividend. This is an increase from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, February 3rd. NiSource’s dividend payout ratio (DPR) is presently 69.14%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their price objective on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.13.

Insider Activity at NiSource

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

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.