ING Groep NV Decreases Position in NiSource, Inc (NYSE:NI)

Key Points

• ING Groep NV has reduced its holdings in NiSource, Inc by 50.9%, owning 22,606 shares after selling 23,412 shares, with its holdings valued at approximately $906,000.
• NiSource recently declared a quarterly dividend of $0.28 per share, representing a 2.7% yield, to be paid on August 20th to shareholders of record on July 31st.
• Several analysts have raised their price targets for NiSource, with Wells Fargo increasing theirs from $43.00 to $45.00 and maintaining an "overweight" rating.

ING Groep NV lessened its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 50.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,606 shares of the utilities provider's stock after selling 23,412 shares during the period. ING Groep NV's holdings in NiSource were worth $906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Canada Post Corp Registered Pension Plan purchased a new stake in shares of NiSource in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after buying an additional 299 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of NiSource by 48.8% in the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after buying an additional 266 shares in the last quarter. Quent Capital LLC boosted its stake in shares of NiSource by 44.7% in the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after buying an additional 310 shares in the last quarter. Finally, Optiver Holding B.V. boosted its stake in shares of NiSource by 105.0% in the fourth quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock valued at $47,000 after buying an additional 656 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Insider Activity

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $39.42, for a total transaction of $245,468.34. Following the completion of the sale, the executive vice president directly owned 28,882 shares in the company, valued at $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Jesanis sold 6,178 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the sale, the director owned 18,541 shares of the company's stock, valued at $701,035.21. This represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,405 shares of company stock valued at $631,939 over the last 90 days. 0.24% of the stock is currently owned by insiders.

NiSource Trading Down 0.3%

NiSource stock traded down $0.11 during trading on Friday, hitting $42.26. The company's stock had a trading volume of 3,851,050 shares, compared to its average volume of 4,466,903. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.86 and a beta of 0.53. The stock's fifty day moving average is $40.43 and its 200 day moving average is $39.47. NiSource, Inc has a 1-year low of $30.66 and a 1-year high of $43.51. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.59.

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

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.12 annualized dividend and a yield of 2.7%. NiSource's dividend payout ratio is currently 60.54%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NI. Wells Fargo & Company lifted their price target on NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price target on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. BMO Capital Markets boosted their price target on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Guggenheim boosted their price target on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Barclays reissued an "overweight" rating and issued a $44.00 price target (up from $42.00) on shares of NiSource in a report on Monday, August 4th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.56.

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.