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

Corebridge Financial Inc. trimmed its stake in shares of NiSource Inc. (NYSE:NI) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NI. Brooklyn Investment Group increased its holdings in shares of NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after buying an additional 527 shares in the last quarter. Spire Wealth Management bought a new stake in NiSource during the 4th quarter worth $39,000. Catalyst Capital Advisors LLC acquired a new position in NiSource in the 4th quarter worth about $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of NiSource during the third quarter valued at about $47,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of NiSource during the fourth quarter valued at about $66,000. Institutional investors own 91.64% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Gunnar Gode sold 5,500 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the transaction, the chief accounting officer now directly owns 24,758 shares of the company’s stock, valued at $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on NI shares. UBS Group upped their price objective on NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Mizuho upped their price target on shares of 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 lifted their price target on shares of NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $39.33.

NiSource Stock Up 0.3 %

Shares of NYSE NI opened at $39.88 on Monday. NiSource Inc. has a 52-week low of $26.26 and a 52-week high of $41.45. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. The company’s 50 day moving average price is $38.93 and its 200-day moving average price is $36.90. The company has a market capitalization of $18.74 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50.

NiSource (NYSE:NI) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same quarter last year, the business posted $0.53 earnings per share. Equities analysts forecast that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.28 per share. 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 currently 69.14%.

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.