Smartleaf Asset Management LLC Acquires 1,195 Shares of NiSource Inc. (NYSE:NI)

Smartleaf Asset Management LLC increased its holdings in shares of NiSource Inc. (NYSE:NI) by 110.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,273 shares of the utilities provider’s stock after buying an additional 1,195 shares during the quarter. Smartleaf Asset Management LLC’s holdings in NiSource were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in NiSource by 153.2% during the fourth 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 bought a new stake in NiSource during the third quarter worth $33,000. Spire Wealth Management bought a new stake in NiSource during the fourth quarter worth $39,000. Catalyst Capital Advisors LLC bought a new stake in NiSource during the fourth quarter worth $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in NiSource during the third quarter worth $47,000. 91.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Gunnar Gode sold 5,500 shares of the business’s stock in a transaction dated 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 directly owns 24,758 shares in the company, valued at $988,339.36. The trade was a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

NiSource Stock Performance

Shares of NI opened at $38.44 on Friday. The firm has a market cap of $18.06 billion, a PE ratio of 23.73, a PEG ratio of 2.56 and a beta of 0.50. The stock’s fifty day moving average price is $38.11 and its two-hundred day moving average price is $36.21. 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 Inc. has a 1 year low of $26.04 and a 1 year high of $41.44.

NiSource (NYSE:NI) last announced its quarterly earnings results 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 firm earned $0.53 earnings per share. On average, equities research analysts forecast that NiSource Inc. will post 1.91 EPS for the current year.

NiSource Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This is a boost from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.91%. NiSource’s payout ratio is 69.14%.

Analyst Ratings Changes

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

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.