The Wesbanco Bank Inc. Has $249,000 Stake in NiSource, Inc (NI), Report finds

The Wesbanco Bank Inc. Has $249,000 Stake in NiSource, Inc (NI), Report finds

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. TCI Wealth Advisors Inc. increased its position in shares of NiSource by 0.5% in the third quarter. TCI Wealth Advisors Inc. now owns 4,694 shares of the company’s stock worth $113,000 after buying an additional 23 shares during the period. Advisory Services Network LLC increased its position in shares of NiSource by 15.5% in the third quarter. Advisory Services Network LLC now owns 4,853 shares of the company’s stock worth $117,000 after buying an additional 653 shares during the period. Financial Architects Inc increased its position in shares of NiSource by 4,163.5% in the third quarter. Financial Architects Inc now owns 4,903 shares of the company’s stock worth $118,000 after buying an additional 4,788 shares during the period. Global X Management Co. LLC increased its position in shares of NiSource by 69.9% in the third quarter. Global X Management Co. LLC now owns 6,250 shares of the company’s stock worth $151,000 after buying an additional 2,571 shares during the period. Finally, Wedbush Securities Inc. increased its position in shares of NiSource by 2.8% in the third quarter. Wedbush Securities Inc. now owns 8,458 shares of the company’s stock worth $204,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 83.49% of the company’s stock.

Wesbanco Bank Inc. boosted its stake in NiSource, Inc (NYSE:NI) by 15.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,260 shares of the company’s stock after buying an additional 1,525 shares during the period. Wesbanco Bank Inc.’s holdings in NiSource were worth $249,000 at the end of the most recent quarter.

Shares of NiSource, Inc (NYSE:NI) remained flat at $22.18 during mid-day trading on Thursday. The company’s stock had a trading volume of 1,327,922 shares. The stock has a 50-day moving average price of $22.22 and a 200-day moving average price of $23.10. The company has a market cap of $7.16 billion, a P/E ratio of 23.57 and a beta of 0.29. NiSource, Inc has a 12 month low of $20.88 and a 12 month high of $26.94.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Friday, February 10th will be issued a dividend of $0.175 per share. This is a positive change from NiSource’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, February 8th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.16%. NiSource’s dividend payout ratio is presently 71.74%.

A number of research analysts recently weighed in on the stock. Jefferies Group LLC upgraded shares of NiSource from an “underperform” rating to a “hold” rating in a research report on Thursday, October 13th. US Capital Advisors upgraded shares of NiSource from a “hold” rating to a “buy” rating in a research report on Wednesday, November 30th. Guggenheim upgraded shares of NiSource from a “neutral” rating to a “buy” rating in a research report on Monday, January 9th. Evercore ISI upgraded shares of NiSource from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Finally, Citigroup Inc upgraded shares of NiSource from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.86.

In other NiSource news, EVP Pablo Vegas purchased 21,541 shares of NiSource stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average price of $21.75 per share, with a total value of $468,516.75. Following the completion of the transaction, the executive vice president now owns 71,397 shares of the company’s stock, valued at $1,552,884.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael E. Jesanis purchased 12,000 shares of NiSource stock in a transaction dated Monday, January 9th. The shares were acquired at an average cost of $22.53 per share, for a total transaction of $270,360.00. Following the transaction, the director now directly owns 26,725 shares of the company’s stock, valued at approximately $602,114.25. The disclosure for this purchase can be found here. 0.32% of the stock is owned by corporate insiders.

NiSource Company Profile

NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.

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