Meritage Portfolio Management Lowers Holdings in NiSource Inc. (NYSE:NI)

Meritage Portfolio Management lessened its stake in shares of NiSource Inc. (NYSE:NI) by 55.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,666 shares of the utilities provider’s stock after selling 85,240 shares during the period. Meritage Portfolio Management’s holdings in NiSource were worth $2,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NI. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NiSource by 12.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,375 shares of the utilities provider’s stock valued at $2,219,000 after buying an additional 6,695 shares during the period. Spirit of America Management Corp NY grew its holdings in NiSource by 9.2% during the 4th quarter. Spirit of America Management Corp NY now owns 23,750 shares of the utilities provider’s stock worth $873,000 after acquiring an additional 2,000 shares in the last quarter. Yousif Capital Management LLC increased its holdings in NiSource by 41.6% during the fourth quarter. Yousif Capital Management LLC now owns 87,815 shares of the utilities provider’s stock valued at $3,228,000 after buying an additional 25,784 shares during the period. Retirement Systems of Alabama lifted its stake in shares of NiSource by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 886,449 shares of the utilities provider’s stock worth $32,586,000 after purchasing an additional 3,062 shares during the last quarter. Finally, Old North State Wealth Management LLC boosted its holdings in shares of NiSource by 14.2% in the 4th quarter. Old North State Wealth Management LLC now owns 10,185 shares of the utilities provider’s stock valued at $375,000 after buying an additional 1,269 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

NiSource Stock Up 2.1 %

NiSource stock opened at $38.17 on Thursday. The business’s 50-day moving average price is $36.92 and its 200 day moving average price is $34.96. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.45 and a beta of 0.54. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.83.

NiSource Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.93%. This is a positive change from NiSource’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, February 3rd. NiSource’s payout ratio is 64.24%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NI. Barclays lifted their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho increased their price target on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on shares of NiSource in a research note on Monday, October 28th. They set a “buy” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.