NiSource (NYSE:NI) Reaches New 52-Week High – Here’s What Happened

NiSource Inc. (NYSE:NI)’s share price reached a new 52-week high on Monday . The company traded as high as $40.95 and last traded at $41.04, with a volume of 165146 shares changing hands. The stock had previously closed at $40.81.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their price objective on shares of NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Eight equities research 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 Stock Down 0.2 %

The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $18.65 billion, a PE ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.50. The stock’s fifty day simple moving average is $37.99 and its 200-day simple moving average is $36.09.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.53 EPS. As a group, sell-side analysts forecast that NiSource Inc. will post 1.91 EPS for the current fiscal year.

NiSource Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd were issued a $0.28 dividend. 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 dividend yield of 2.82%. NiSource’s dividend payout ratio is currently 69.14%.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 in the company, valued at approximately $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Post Corp Registered Pension Plan purchased a new stake in shares of NiSource during the 4th quarter worth approximately $27,000. Brooklyn Investment Group grew its holdings in NiSource by 153.2% during 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 purchased a new stake in NiSource in the third quarter worth $33,000. Spire Wealth Management purchased a new stake in NiSource in the fourth quarter worth $39,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of NiSource in the fourth quarter valued at $40,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.