NiSource Inc. (NYSE:NI) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in NiSource Inc. (NYSE:NI) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,448,075 shares of the utilities provider’s stock after acquiring an additional 700,747 shares during the quarter. Geode Capital Management LLC owned 2.45% of NiSource worth $419,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of NiSource by 88.4% in 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 in the last quarter. Norges Bank acquired a new stake in NiSource in the 4th quarter valued at $195,745,000. Vanguard Group Inc. raised its position in NiSource by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider’s stock valued at $2,124,492,000 after purchasing an additional 2,459,452 shares during the period. State Street Corp raised its position in NiSource by 5.8% in the third quarter. State Street Corp now owns 22,691,174 shares of the utilities provider’s stock valued at $786,249,000 after purchasing an additional 1,247,368 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in shares of NiSource by 793.3% during the third quarter. Retirement Systems of Alabama now owns 883,387 shares of the utilities provider’s stock worth $30,609,000 after purchasing an additional 784,495 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Trading Down 6.3 %

NI opened at $37.23 on Friday. The stock has a market capitalization of $17.49 billion, a PE ratio of 22.98, a P/E/G ratio of 2.56 and a beta of 0.48. 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 12-month low of $26.26 and a 12-month high of $41.45. The firm’s fifty day moving average price is $39.09 and its 200 day moving average price is $37.05.

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

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Wednesday, April 30th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.01%. NiSource’s dividend payout ratio (DPR) is 69.14%.

Analysts Set New Price Targets

NI has been the topic of several analyst reports. UBS Group raised their target price on NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 21st. 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 research note on Thursday, February 13th. Finally, Mizuho boosted their target price on shares of NiSource from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $39.33.

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 sale, the chief accounting officer now owns 24,758 shares in the company, valued at $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

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.