NiSource, Inc (NYSE:NI) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in NiSource, Inc by 14.9%, holding 37,628 shares valued at approximately $1.51 million after selling part of its position in the first quarter.
• Several institutional investors adjusted their positions, with MassMutual Private Wealth & Trust FSB increasing its stake by 64.2% and Optiver Holding B.V. boosting its holdings by 105.0%.
• NiSource reported $0.22 earnings per share, which exceeded analysts’ expectations, and maintains a market capitalization of $19.86 billion with a consensus rating of "Moderate Buy" from analysts.

Mizuho Securities USA LLC lessened its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,628 shares of the utilities provider's stock after selling 6,612 shares during the quarter. Mizuho Securities USA LLC's holdings in NiSource were worth $1,509,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan purchased a new stake in shares of NiSource during the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of NiSource by 64.2% during the 1st 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 during the period. Larson Financial Group LLC raised its position in 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 purchasing an additional 266 shares during the period. Quent Capital LLC raised its position in 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 purchasing an additional 310 shares during the period. Finally, Optiver Holding B.V. raised its position in 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 purchasing an additional 656 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Stock Down 1.5%

Shares of NYSE:NI traded down $0.62 during trading on Friday, hitting $41.93. The company's stock had a trading volume of 3,727,156 shares, compared to its average volume of 4,366,566. The business has a 50 day moving average price of $40.74 and a two-hundred day moving average price of $39.65. The company has a market capitalization of $19.74 billion, a PE ratio of 22.30, a P/E/G ratio of 2.88 and a beta of 0.53. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. NiSource, Inc has a fifty-two week low of $31.70 and a fifty-two week high of $43.51.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $1.16 billion during 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 quarter in the previous year, the firm posted $0.21 earnings per share. As a group, research analysts expect that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on NI shares. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Zacks Research raised NiSource to a "hold" rating in a research report on Monday, August 11th. Guggenheim boosted their target price on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. 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 report on Thursday, May 8th. Finally, Barclays reissued an "overweight" rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $42.56.

Insider Activity at NiSource

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

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.