Maple Brown Abbott Ltd Reduces Holdings in NiSource, Inc (NYSE:NI)

Key Points

• Maple Brown Abbott Ltd reduced its holdings in NiSource, Inc by 19.0% during the first quarter, selling 438,533 shares and currently holding approximately 1.87 million shares.
• Analysts have recently upgraded their target prices for NiSource, with Wells Fargo raising it from $43.00 to $45.00, while Guggenheim and JPMorgan also increased their target to $43.00.
• NiSource announced a quarterly dividend of $0.28 per share, which will be paid on November 20th, representing an annualized yield of 2.6%.

Maple Brown Abbott Ltd cut its holdings in NiSource, Inc (NYSE:NI - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,872,810 shares of the utilities provider's stock after selling 438,533 shares during the quarter. NiSource accounts for 5.1% of Maple Brown Abbott Ltd's investment portfolio, making the stock its 12th largest holding. Maple Brown Abbott Ltd owned about 0.40% of NiSource worth $75,087,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NI. Raymond James Financial Inc. acquired a new position in NiSource in the fourth quarter valued at approximately $15,522,000. Rockefeller Capital Management L.P. lifted its stake in NiSource by 1.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 493,714 shares of the utilities provider's stock valued at $18,147,000 after buying an additional 6,096 shares during the period. Townsquare Capital LLC increased its holdings in shares of NiSource by 4.6% during the fourth quarter. Townsquare Capital LLC now owns 7,408 shares of the utilities provider's stock valued at $272,000 after acquiring an additional 323 shares in the last quarter. SageView Advisory Group LLC increased its holdings in shares of NiSource by 7.5% during the fourth quarter. SageView Advisory Group LLC now owns 11,783 shares of the utilities provider's stock valued at $433,000 after acquiring an additional 826 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of NiSource by 23.1% during the fourth quarter. Barclays PLC now owns 1,665,125 shares of the utilities provider's stock valued at $61,209,000 after acquiring an additional 312,943 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NiSource

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the completion of the transaction, the executive vice president owned 28,882 shares in the company, valued at $1,138,528.44. This represents a 17.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

NiSource Stock Down 1.5%

NiSource stock traded down $0.62 during trading on Friday, hitting $41.93. 3,727,156 shares of the company were exchanged, compared to its average volume of 4,530,560. The company has a market capitalization of $19.74 billion, a P/E ratio of 22.30, a PEG ratio of 2.89 and a beta of 0.53. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The business's 50 day moving average is $40.69 and its 200 day moving average is $39.61. NiSource, Inc has a 52 week low of $31.70 and a 52 week high of $43.51.

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

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio is 59.57%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Guggenheim boosted their price objective on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. BMO Capital Markets boosted their price objective on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Barclays restated an "overweight" rating and set a $44.00 price objective (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from 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.