Amalgamated Bank Has $3.35 Million Holdings in NiSource Inc. (NYSE:NI)

Amalgamated Bank lifted its stake in shares of NiSource Inc. (NYSE:NIFree Report) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,908 shares of the utilities provider’s stock after purchasing an additional 9,164 shares during the quarter. Amalgamated Bank’s holdings in NiSource were worth $3,354,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NI. Private Advisor Group LLC boosted its stake in NiSource by 16.3% in the first quarter. Private Advisor Group LLC now owns 18,625 shares of the utilities provider’s stock valued at $593,000 after buying an additional 2,614 shares in the last quarter. MetLife Investment Management LLC boosted its stake in NiSource by 23.1% in the first quarter. MetLife Investment Management LLC now owns 106,827 shares of the utilities provider’s stock valued at $3,397,000 after buying an additional 20,064 shares in the last quarter. Cibc World Market Inc. boosted its stake in NiSource by 66.2% in the first quarter. Cibc World Market Inc. now owns 146,548 shares of the utilities provider’s stock valued at $4,660,000 after buying an additional 58,398 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NiSource by 29.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,952,676 shares of the utilities provider’s stock valued at $62,093,000 after purchasing an additional 447,102 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of NiSource during the first quarter valued at about $472,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NI shares. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays started coverage on NiSource in a research note on Monday, January 22nd. They set an “overweight” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

View Our Latest Stock Analysis on NiSource

Insiders Place Their Bets

In other news, Director Michael E. Jesanis sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $26.24, for a total transaction of $131,200.00. Following the completion of the sale, the director now owns 48,070 shares in the company, valued at $1,261,356.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

NiSource Trading Up 0.8 %

Shares of NI stock opened at $25.25 on Friday. The company has a market cap of $10.44 billion, a P/E ratio of 16.95, a PEG ratio of 2.05 and a beta of 0.49. The stock has a 50 day simple moving average of $26.22 and a two-hundred day simple moving average of $26.17. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.29 and a current ratio of 0.41. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $28.95.

NiSource Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, February 5th will be issued a $0.265 dividend. This is an increase from NiSource’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, February 2nd. NiSource’s payout ratio is presently 71.14%.

NiSource Company 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 through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

Further Reading

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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