NiSource, Inc $NI Stock Holdings Lessened by Asset Management One Co. Ltd.

Key Points

• Asset Management One reduced its NiSource stake by 7.7% in the third quarter, selling 23,739 shares and retaining 282,734 shares valued at approximately $11.0 million. Institutional investors collectively own 91.64% of NiSource.
• Analyst sentiment remains positive, with 12 Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $48.58.
• NiSource exceeded quarterly earnings expectations, reporting $0.27 in EPS versus the $0.23 consensus and $1.35 billion in revenue. The company also declared a quarterly dividend of $0.30 per share, implying a 2.7% yield.

Asset Management One Co. Ltd. trimmed its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,734 shares of the utilities provider's stock after selling 23,739 shares during the quarter. Asset Management One Co. Ltd. owned 0.06% of NiSource worth $11,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NI. BlackRock Inc. acquired a new position in shares of NiSource in the 2nd quarter worth approximately $2,613,234,000. Deutsche Bank AG bought a new stake in NiSource during the 2nd quarter worth approximately $574,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NiSource by 4.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,381,989 shares of the utilities provider's stock valued at $208,364,000 after purchasing an additional 183,321 shares in the last quarter. Legal & General Group Plc acquired a new stake in NiSource during the 2nd quarter valued at $179,838,000. Finally, BROOKFIELD Corp ON raised its position in NiSource by 154.7% in the 1st quarter. BROOKFIELD Corp ON now owns 3,680,202 shares of the utilities provider's stock valued at $171,718,000 after purchasing an additional 2,235,394 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NI has been the subject of a number of research analyst reports. Weiss Ratings cut NiSource from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 22nd. Scotiabank started coverage on shares of NiSource in a report on Tuesday, September 29th. They set a "sector perform" rating and a $43.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of NiSource from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Monday, October 19th. Citigroup reaffirmed a "buy" rating on shares of NiSource in a research note on Wednesday, October 21st. Finally, Wall Street Zen upgraded shares of NiSource from a "sell" rating to a "hold" rating in a research report on Saturday. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, NiSource has a consensus rating of "Moderate Buy" and an average price target of $48.58.

Insider Activity

In other news, EVP Melody Birmingham sold 37,509 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the transaction, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. This represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company's stock.

NiSource Trading Down 0.4%

NI opened at $44.56 on Friday. The firm's fifty day moving average is $41.21 and its two-hundred day moving average is $44.83. The firm has a market cap of $21.37 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.55. NiSource, Inc has a twelve month low of $38.42 and a twelve month high of $49.21. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.41 and a current ratio of 0.50.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. NiSource had a net margin of 13.56% and a return on equity of 8.16%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $0.19 EPS. Equities research analysts anticipate that NiSource, Inc will post 2.06 EPS for the current year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be given a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. NiSource's payout ratio is currently 61.54%.

About NiSource

NiSource Inc is a regulated energy holding company based in Merrillville, Indiana. Through its operating companies, the company provides natural gas distribution and electric utility services to residential, commercial and industrial customers.

NiSource's natural gas operations include Columbia Gas utilities serving customers in several states, including Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana and provides both electric power and natural gas services.

The company's operations include energy delivery infrastructure, utility system maintenance, customer services and investments intended to support reliability and the transition of its generation portfolio.

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