Zimmer Partners LP reduced its position in NiSource Inc. (NYSE:NI) by 19.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,497,200 shares of the utilities provider’s stock after selling 1,999,900 shares during the period. NiSource comprises 5.3% of Zimmer Partners LP’s investment portfolio, making the stock its 4th biggest position. Zimmer Partners LP owned approximately 2.52% of NiSource worth $218,123,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in NiSource by 193.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,124 shares of the utilities provider’s stock valued at $848,000 after acquiring an additional 21,837 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of NiSource by 8.6% during the third quarter. State of Wisconsin Investment Board now owns 223,102 shares of the utilities provider’s stock worth $5,709,000 after acquiring an additional 17,656 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of NiSource by 8.7% during the third quarter. Prudential Financial Inc. now owns 660,083 shares of the utilities provider’s stock worth $16,892,000 after buying an additional 52,620 shares during the period. Principal Financial Group Inc. boosted its position in shares of NiSource by 2.4% during the third quarter. Principal Financial Group Inc. now owns 514,578 shares of the utilities provider’s stock worth $13,168,000 after buying an additional 11,876 shares during the period. Finally, Swiss National Bank boosted its position in shares of NiSource by 1.1% during the third quarter. Swiss National Bank now owns 1,191,700 shares of the utilities provider’s stock worth $30,496,000 after buying an additional 13,200 shares during the period. 86.97% of the stock is owned by hedge funds and other institutional investors.
Shares of NiSource Inc. (NYSE NI) opened at $23.35 on Wednesday. The company has a market cap of $7,807.69, a PE ratio of 20.12, a P/E/G ratio of 3.27 and a beta of 0.30. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.41 and a current ratio of 0.55. NiSource Inc. has a twelve month low of $22.44 and a twelve month high of $27.76.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were issued a $0.195 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.78 dividend on an annualized basis and a yield of 3.34%. This is an increase from NiSource’s previous quarterly dividend of $0.18. NiSource’s payout ratio is currently 200.01%.
A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of NiSource from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Edward Jones upgraded shares of NiSource from a “hold” rating to a “buy” rating in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Thursday, January 4th. Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, January 10th. Finally, Guggenheim restated a “buy” rating and set a $27.00 price target on shares of NiSource in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $27.41.
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NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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