In the world of finance, retirement advisors play a crucial role in helping individuals plan out their strategies for the golden years. One such firm, &B.O.S.S. Retirement Advisors LLC, has made headlines recently with news of their increased holdings in shares of NiSource Inc. This development could indicate a strengthening market position for both parties.
According to &B.O.S.S.’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), the company increased its holdings in NiSource by 19.5% during Q1 2023. This means that they now own over 88,000 shares in the utility provider’s stock after purchasing an additional 14,376 shares during the period. At current market values, these holdings are worth an impressive $2,463,000.
NiSource itself also made waves recently with its announcement of a quarterly dividend to be paid on August 18th. Investors of record on July 31st stand to receive a dividend of $0.25 per share, representing an annualized payout ratio of $1 and a dividend yield of 3.74%. As of June 26th, pulling data from Bloomberg suggests that analysts have given NiSource an average rating of “Moderate Buy” along with a consensus price target of $29.88.
These developments come amidst a flurry of recent reports from equities analysts covering NI shares. Evercore ISI decreased their price target from $31 to $30 on June 21st while BMO Capital Markets dropped theirs down similarly to $30 on the same day. In contrast, UBS Group upgraded NiSource from “Neutral” to “Buy” while setting a price objective at exactly $31 per share back on June 6th.
All this information taken together paints an intriguing picture for investors looking to enter or expand upon their positions within the utilities sector. With some notable fluctuations occurring across companies like NiSource in recent weeks, it is a prudent time to consider the strategic strength and resilience of these firms as guiding factors for any investment decisions made.
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NiSource Inc. Sees Surge in Interest from Large Investors Despite Insider Selling Activity
NiSource Inc., a utilities provider with a market capitalization of $11.04 billion, recently saw a surge of interest from large investors. Benjamin F. Edwards & Company Inc., for instance, increased its stake in the company by 67.7% during the 4th quarter, now owning 1,075 shares valued at $29,000 after purchasing an additional 434 shares during the period. Likewise, Boyd Watterson Asset Management LLC OH acquired a new position in NiSource worth about $30,000; Romano Brothers AND Company purchased a new stake in shares of NiSource valued at around $31,000; and Achmea Investment Management B.V. bought another new stake in shares in the first quarter worth an estimated $33,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in NiSource by 586% during the 4th quarter, owning 1,228 shares valued at $34,000 after acquiring another 1,049 shares last quarter.
A whopping 93.18% of NiSource’s stock is currently owned by institutional investors and hedge funds.
However, as detailed in documents filed with the SEC website on May 8th , SVP Kimberly S. Cuccia sold off an astonishing amount of shares–11,157 to be exact–in exchange for $318,420.78 when they were priced at an average price per share of $28.54 that day.
Despite this sudden shift among large investors and insider selling activity within the company itself (0.24% owned by insiders), as of June 26th , NiSource had declared a quarterly dividend set to be paid Friday August 18th . Investors will receive $0.25 per share if they are recorded on record Monday July 31st . Currently holding a payout ratio of approximately 68%, this annual dividend represents solid shareholder returns yielding approximately 3.74%.
On Monday, June 26th , NiSource opened at $26.72. With a debt-to-equity ratio of 1.59, the business has a quick ratio of 0.50 and a current ratio of 0.60, with its 50-day simple moving average hovering around $27.67 and its 200 day simple moving average sitting at $27.57.
The company’s beta is currently sitting at .48 valuation points while its PE ratio stands high at approximately 18.18 and it has a PEG ratio of roughly2.39 NiSource Inc., last posted their quarterly earnings on May 3rd , reporting an EPS figure of $0.77, meeting the consensus analyst estimates of $0.77 earnings per share for the quarter; revenue was reported at approximately $1.97 billion during the quarter as well despite earlier projections stating revenues would be approximately $50 million lower at $1.94 billion during Q1 of this year.
NiSource, as part of its broader strategy for growth, plans to invest around $1 billion in safety projects over the next few years while still investing in other critical areas such as modernization initiatives within urban districts’ gas infrastructure throughout up to seven states.
In addition NiSource intends to adhere to new federal mandates regulating pipeline safety rules after reports about massive gas explosions that occurred in larger urban areas near natural gas pipelines resulted in numerous fatalities and injuries last year.
As investment interest rises amidst industry consolidation efforts happening nationwide amongst utilities providers due mainly to regulatory changes within the competitive sector; subsequent SEC filings reveal insider actions through detected market signals may become more prevalent aiding broader investors when stampeding towards technology driven regulation compliant energy service providers seeking avenues for swift returns or long-term stable capital infusion opportunities for risk-averse institutional entities needing liquidity alongside stability & ROI conservation awareness initiatives through strategic stakeholder partnerships whether inside or outside investor circles alike who view NiSource Inc with a 105mm outstanding share count, as a potential long-term growth player in the energy sector .