NiSource, Inc $NI Stock Holdings Trimmed by National Pension Service

Key Points

• National Pension Service drastically reduced its holdings in NiSource, Inc by 99.8%, retaining only 1,640 shares worth $66,000 after selling 668,701 shares in the first quarter.
• NiSource recently announced a quarterly dividend of $0.28, with an annualized dividend yield of 2.7%, set to be paid on November 20th to stockholders of record on October 31st.
• Wall Street analysts have mixed opinions on NiSource, with one report lowering its rating to "sell" and multiple others maintaining "buy" ratings and increasing price targets, indicating a consensus rating of "Moderate Buy."

National Pension Service trimmed its position in NiSource, Inc (NYSE:NI - Free Report) by 99.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,640 shares of the utilities provider's stock after selling 668,701 shares during the quarter. National Pension Service's holdings in NiSource were worth $66,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. raised its holdings in shares of NiSource by 9.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 148,323 shares of the utilities provider's stock worth $5,942,000 after purchasing an additional 12,553 shares during the period. Public Sector Pension Investment Board grew its stake in shares of NiSource by 3.7% in the first quarter. Public Sector Pension Investment Board now owns 125,621 shares of the utilities provider's stock valued at $5,036,000 after buying an additional 4,519 shares in the last quarter. Nuveen LLC acquired a new stake in shares of NiSource in the first quarter valued at about $71,839,000. Aigen Investment Management LP acquired a new stake in shares of NiSource in the first quarter valued at about $1,654,000. Finally, Strengthening Families & Communities LLC grew its stake in shares of NiSource by 4.1% in the first quarter. Strengthening Families & Communities LLC now owns 27,593 shares of the utilities provider's stock valued at $1,093,000 after buying an additional 1,088 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Down 0.4%

NYSE NI traded down $0.1620 during trading hours on Thursday, reaching $42.3780. 974,389 shares of the company traded hands, compared to its average volume of 4,472,792. NiSource, Inc has a 12 month low of $32.27 and a 12 month high of $43.51. 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 stock has a market capitalization of $19.95 billion, a PE ratio of 22.55, a PEG ratio of 2.86 and a beta of 0.53. The company has a 50 day moving average of $40.90 and a two-hundred day moving average of $39.75.

NiSource (NYSE:NI - Get Free Report) last issued its 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 company 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 quarter last year, the firm earned $0.21 EPS. As a group, equities analysts expect that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be given 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 yield of 2.6%. NiSource's payout ratio is currently 59.57%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NI shares. BMO Capital Markets increased their target price on NiSource from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. increased their target price on NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Guggenheim increased their target price 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 upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.56.

Insider Transactions at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president owned 28,882 shares in the company, valued at $1,138,528.44. The trade was a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.