Corebridge Financial Inc. Has $4.06 Million Stock Position in NiSource Inc. (NYSE:NI)

Corebridge Financial Inc. lessened its holdings in NiSource Inc. (NYSE:NI) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,527 shares of the utilities provider’s stock after selling 832 shares during the quarter. Corebridge Financial Inc.’s holdings in NiSource were worth $4,063,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Townsquare Capital LLC acquired a new position in NiSource during the third quarter valued at approximately $245,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NiSource by 43.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 339,085 shares of the utilities provider’s stock valued at $11,749,000 after buying an additional 102,658 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NiSource by 23.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,586,789 shares of the utilities provider’s stock worth $89,632,000 after buying an additional 495,738 shares during the last quarter. Walleye Capital LLC raised its position in NiSource by 1,412.3% during the third quarter. Walleye Capital LLC now owns 18,193 shares of the utilities provider’s stock worth $630,000 after acquiring an additional 16,990 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in NiSource by 7.9% in the third quarter. Rockefeller Capital Management L.P. now owns 487,618 shares of the utilities provider’s stock valued at $16,894,000 after acquiring an additional 35,618 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NI. UBS Group boosted their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Mizuho raised their price objective on NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company boosted their target price on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NiSource presently has an average rating of “Buy” and an average price target of $39.33.

Insider Activity

In other news, CAO Gunnar Gode sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

NiSource Stock Up 0.3 %

NI stock opened at $39.88 on Monday. The business’s fifty day moving average price is $38.93 and its two-hundred day moving average price is $36.90. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.56 and a beta of 0.50. NiSource Inc. has a fifty-two week low of $26.26 and a fifty-two week high of $41.45. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate 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 firm posted $0.53 earnings per share. On average, equities analysts anticipate that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $1.12 annualized dividend and a yield of 2.81%. NiSource’s dividend payout ratio is presently 69.14%.

NiSource Company 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.