NiSource (NI) Declares $0.25 Dividend
NiSource said on May 23, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of July 28, 2023 to qualify for the dividend. Shareholders of record as of July 31, 2023 will receive the payment on August 18, 2023.
At the current share price of $27.25 / share, the stock's dividend yield is 3.67%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.28%, the lowest has been 2.67%, and the highest has been 4.03%. The standard deviation of yields is 0.34 (n=237).
The current dividend yield is 1.16 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.58. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1317 funds or institutions reporting positions in NiSource. This is an increase of 34 owner(s) or 2.65% in the last quarter. Average portfolio weight of all funds dedicated to NI is 0.25%, a decrease of 1.29%. Total shares owned by institutions increased in the last three months by 0.44% to 439,628K shares. 
The put/call ratio of NI is 0.27, indicating a bullish outlook.
Analyst Price Forecast Suggests 17.91% Upside
As of May 11, 2023, the average one-year price target for NiSource is 32.13. The forecasts range from a low of 31.31 to a high of $34.65. The average price target represents an increase of 17.91% from its latest reported closing price of 27.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for NiSource is 5,779MM, a decrease of 2.76%. The projected annual non-GAAP EPS is 1.58.
What are Other Shareholders Doing?
Deutsche Bank Ag\ holds 19,657K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 19,362K shares, representing an increase of 1.50%. The firm decreased its portfolio allocation in NI by 87.77% over the last quarter.
Barclays holds 13,520K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 4,951K shares, representing an increase of 63.38%. The firm increased its portfolio allocation in NI by 285,304.97% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,321K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 12,097K shares, representing an increase of 1.81%. The firm increased its portfolio allocation in NI by 2.38% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 9,444K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 9,324K shares, representing an increase of 1.27%. The firm increased its portfolio allocation in NI by 1.27% over the last quarter.
Jennison Associates holds 9,390K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 3,660K shares, representing an increase of 61.03%. The firm increased its portfolio allocation in NI by 26.70% over the last quarter.
NiSource Background Information
(This description is provided by the company.)
NiSource Inc. is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index and the Bloomberg Gender Equality Index and has been named by Forbes magazine among America's Best Large Employers since 2016.
Key filings for this company:
This story originally appeared on Fintel.