AQR Capital Management LLC Cuts Stock Position in NiSource Inc. (NYSE:NI)

AQR Capital Management LLC lowered its holdings in NiSource Inc. (NYSE:NI - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 904,863 shares of the utilities provider's stock after selling 390,509 shares during the quarter. AQR Capital Management LLC owned about 0.19% of NiSource worth $33,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NI. Barclays PLC increased its position in shares of NiSource by 25.3% in the third quarter. Barclays PLC now owns 1,352,182 shares of the utilities provider's stock valued at $46,852,000 after buying an additional 273,159 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of NiSource in the third quarter worth about $348,000. World Investment Advisors LLC acquired a new stake in shares of NiSource during the third quarter valued at about $227,000. Tidal Investments LLC lifted its holdings in NiSource by 271.7% during the 3rd quarter. Tidal Investments LLC now owns 35,551 shares of the utilities provider's stock worth $1,232,000 after buying an additional 25,987 shares during the last quarter. Finally, Synovus Financial Corp acquired a new stake in NiSource during the third quarter worth about $280,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Insider Activity

In related news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company's stock.

NiSource Stock Performance

NiSource stock traded up $0.03 during midday trading on Tuesday, reaching $39.34. The stock had a trading volume of 5,363,578 shares, compared to its average volume of 4,166,797. The firm's 50-day moving average price is $39.17 and its 200 day moving average price is $37.78. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $18.51 billion, a PE ratio of 24.28, a P/E/G ratio of 2.56 and a beta of 0.53. NiSource Inc. has a 12 month low of $27.60 and a 12 month high of $41.45.

NiSource (NYSE:NI - Get Free Report) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates 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 period in the prior year, the company posted $0.53 EPS. As a group, research analysts predict that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, April 30th. NiSource's payout ratio is 69.14%.

Analysts Set New Price Targets

Several research analysts have issued reports on NI shares. BMO Capital Markets lifted their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lifted their price objective on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Barclays increased their price target on shares of NiSource from $38.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Mizuho raised their target price on NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, NiSource has a consensus rating of "Buy" and an average price target of $41.11.

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.