Epoch Investment Partners Inc. Sells 363,714 Shares of NiSource, Inc $NI

Key Points

• Epoch Investment Partners Inc. reduced its stake in NiSource, Inc. by 20.2%, selling 363,714 shares and now owns approximately 1.4 million shares worth $57.6 million.
• Several hedge funds have adjusted their positions in NiSource, notably Jump Financial LLC increasing its stake by 729.2% during the first quarter.
• NiSource recently declared a quarterly dividend of $0.28 per share, with a payout ratio of 59.57%, reflecting a 2.6% annualized yield.

Epoch Investment Partners Inc. lowered its holdings in NiSource, Inc (NYSE:NI - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,436,387 shares of the utilities provider's stock after selling 363,714 shares during the period. Epoch Investment Partners Inc. owned about 0.31% of NiSource worth $57,585,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NI. FORA Capital LLC bought a new stake in shares of NiSource during the 1st quarter worth $1,047,000. Virtus Advisers LLC increased its holdings in NiSource by 303.2% during the first quarter. Virtus Advisers LLC now owns 20,922 shares of the utilities provider's stock worth $839,000 after buying an additional 15,733 shares during the last quarter. Synovus Financial Corp bought a new stake in NiSource in the first quarter worth about $217,000. MetLife Investment Management LLC raised its position in NiSource by 64.8% in the first quarter. MetLife Investment Management LLC now owns 203,596 shares of the utilities provider's stock worth $8,162,000 after acquiring an additional 80,048 shares during the period. Finally, Jump Financial LLC boosted its stake in NiSource by 729.2% in the first quarter. Jump Financial LLC now owns 65,485 shares of the utilities provider's stock valued at $2,625,000 after acquiring an additional 57,588 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NI. Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Wells Fargo & Company boosted their target price on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Barclays reiterated an "overweight" rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a research note on Monday, August 4th. Guggenheim boosted their price objective on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Zacks Research raised shares of NiSource to a "hold" rating in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $42.56.

Insider Buying and Selling at NiSource

In other news, EVP Melanie B. Berman sold 6,227 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

NiSource Stock Down 0.6%

Shares of NYSE NI opened at $42.41 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The company has a market cap of $19.97 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.88 and a beta of 0.53. NiSource, Inc has a 52 week low of $32.53 and a 52 week high of $43.51. The business has a 50-day simple moving average of $41.15 and a two-hundred day simple moving average of $39.89.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same period in the prior year, the firm posted $0.21 earnings per share. Research analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource's payout ratio is 59.57%.

About NiSource

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.

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