Longboard Asset Management LP Acquires Shares of 7,200 NiSource Inc. (NYSE:NI)

Longboard Asset Management LP bought a new position in NiSource Inc. (NYSE:NI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,200 shares of the utilities provider’s stock, valued at approximately $265,000. NiSource comprises about 0.7% of Longboard Asset Management LP’s portfolio, making the stock its 10th largest position.

A number of other institutional investors have also recently modified their holdings of the stock. Brooklyn Investment Group raised its holdings in 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 acquiring an additional 527 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of NiSource in the 3rd quarter worth $33,000. Spire Wealth Management purchased a new position in shares of NiSource in the fourth quarter worth $39,000. Legacy Investment Solutions LLC bought a new position in shares of NiSource during the third quarter valued at $47,000. Finally, Friedenthal Financial purchased a new stake in shares of NiSource during the third quarter valued at $50,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Trading Up 0.7 %

Shares of NiSource stock opened at $37.58 on Tuesday. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.83. The company’s fifty day simple moving average is $36.94 and its 200-day simple moving average is $34.89. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. The stock has a market capitalization of $17.54 billion, a PE ratio of 22.77, a P/E/G ratio of 2.45 and a beta of 0.54.

NiSource Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, February 3rd. This is an increase from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.98%. NiSource’s payout ratio is 64.24%.

Wall Street Analyst Weigh In

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

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.