Bleakley Financial Group LLC Buys 926 Shares of NiSource Inc. (NYSE:NI)

Bleakley Financial Group LLC grew its stake in NiSource Inc. (NYSE:NI) by 5.1% during the 4th quarter, HoldingsChannel reports. The fund owned 19,121 shares of the utilities provider’s stock after purchasing an additional 926 shares during the quarter. Bleakley Financial Group LLC’s holdings in NiSource were worth $703,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group raised its position in shares of NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 527 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in NiSource in the third quarter worth about $33,000. Spire Wealth Management purchased a new position in NiSource in the fourth quarter worth about $39,000. Legacy Investment Solutions LLC bought a new position in shares of NiSource in the third quarter worth approximately $47,000. Finally, Friedenthal Financial purchased a new stake in shares of NiSource during the third quarter valued at approximately $50,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

Shares of NYSE NI opened at $37.88 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. NiSource Inc. has a 1 year low of $24.80 and a 1 year high of $38.83. The firm has a fifty day moving average price of $36.92 and a 200-day moving average price of $35.09. The stock has a market cap of $17.68 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.50 and a beta of 0.54.

NiSource Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, February 3rd. This is a boost from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.96%. NiSource’s dividend payout ratio (DPR) is currently 67.88%.

Analyst Upgrades and Downgrades

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