Wells Fargo & Company MN Has $14.35 Million Stock Holdings in NiSource Inc. (NYSE:NI) (2024)

Wells Fargo & Company MN decreased its stake in NiSource Inc. (NYSE:NI – Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 540,557 shares of the utilities provider’s stock after selling 42,526 shares during the quarter. Wells Fargo & Company MN owned 0.13% of NiSource worth $14,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. acquired a new position in NiSource in the fourth quarter valued at about $209,000. Gladstone Institutional Advisory LLC lifted its stake in NiSource by 5.3% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 15,058 shares of the utilities provider’s stock valued at $400,000 after buying an additional 761 shares during the period. Norges Bank acquired a new position in NiSource in the fourth quarter valued at about $70,090,000. ING Groep NV lifted its stake in NiSource by 9.0% in the fourth quarter. ING Groep NV now owns 56,576 shares of the utilities provider’s stock valued at $1,502,000 after buying an additional 4,695 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in NiSource by 4.0% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,723 shares of the utilities provider’s stock valued at $391,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays increased their target price on NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $31.00 price target (up previously from $30.00) on shares of NiSource in a research report on Thursday, May 9th. Evercore ISI raised their price target on NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.71.

View Our Latest Research Report on NiSource

Insiders Place Their Bets

In other NiSource news, SVP Melanie B. Berman sold 11,141 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total transaction of $297,019.06. Following the transaction, the senior vice president now owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

NiSource Stock Up 3.9 %

Shares of NiSource stock opened at $29.06 on Friday. The business’s 50 day simple moving average is $28.00 and its 200 day simple moving average is $26.85. NiSource Inc. has a 52-week low of $22.86 and a 52-week high of $29.44. The firm has a market cap of $13.03 billion, a PE ratio of 18.99, a P/E/G ratio of 2.84 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.56 and a current ratio of 0.66.

NiSource (NYSE:NI – Get Free Report) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm earned $0.77 EPS. On average, analysts predict that NiSource Inc. will post 1.71 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, August 20th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, July 30th. NiSource’s dividend payout ratio (DPR) is 69.28%.

NiSource Profile

(Free Report)

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.

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