Duff & Phelps Investment Management Co. Has $141.51 Million Holdings in NiSource Inc. (NYSE:NI)

Duff & Phelps Investment Management Co. reduced its holdings in NiSource Inc. (NYSE:NI) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 3,849,521 shares of the utilities provider’s stock after selling 50,455 shares during the quarter. NiSource comprises about 1.7% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 14th biggest position. Duff & Phelps Investment Management Co.’s holdings in NiSource were worth $141,508,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Brooklyn Investment Group lifted its holdings in shares of 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 acquiring an additional 527 shares during the period. Spire Wealth Management acquired a new position in shares of NiSource during the fourth quarter worth approximately $39,000. Catalyst Capital Advisors LLC bought a new position in NiSource in the 4th quarter valued at $40,000. Legacy Investment Solutions LLC bought a new stake in NiSource during the 3rd quarter worth about $47,000. Finally, Intact Investment Management Inc. bought a new stake in NiSource in the fourth quarter valued at about $66,000. 91.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of 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 target on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Mizuho lifted their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.33.

Insider Transactions at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the business’s 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 transaction, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. The trade was a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

NiSource Trading Down 0.6 %

Shares of NiSource stock opened at $39.76 on Friday. NiSource Inc. has a 1 year low of $26.26 and a 1 year high of $41.45. 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 firm has a market capitalization of $18.68 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. The firm’s 50 day moving average is $38.89 and its 200 day moving average is $36.80.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $0.53 EPS. Equities research analysts forecast that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, April 30th. NiSource’s dividend payout ratio (DPR) is currently 69.14%.

NiSource 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.