NiSource, Inc (NYSE:NI) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd lowered its stake in NiSource, Inc (NYSE:NI - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,456 shares of the utilities provider's stock after selling 14,812 shares during the period. NiSource makes up about 4.8% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 3rd largest holding. Ausbil Investment Management Ltd's holdings in NiSource were worth $7,355,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NI. Millennium Management LLC increased its holdings in shares of NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after buying an additional 6,001,486 shares in the last quarter. Capital International Investors bought a new position in shares of NiSource in the fourth quarter valued at $219,977,000. Norges Bank bought a new position in shares of NiSource in the fourth quarter valued at $195,745,000. Invesco Ltd. increased its holdings in shares of NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock valued at $301,427,000 after buying an additional 2,714,262 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in NiSource by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider's stock worth $2,124,492,000 after purchasing an additional 2,459,452 shares in the last quarter. Institutional investors own 91.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NI shares. JPMorgan Chase & Co. lifted their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. UBS Group lifted their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Mizuho lifted their price objective on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. Finally, Barclays lifted their price objective on shares of NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $41.50.

NiSource Stock Up 0.1%

Shares of NiSource stock traded up $0.02 on Tuesday, hitting $40.53. 4,266,803 shares of the company traded hands, compared to its average volume of 4,126,398. The company has a 50-day moving average price of $39.25 and a 200 day moving average price of $38.51. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. NiSource, Inc has a 12-month low of $28.42 and a 12-month high of $41.45. The company has a market cap of $19.08 billion, a PE ratio of 21.91, a PEG ratio of 2.74 and a beta of 0.54.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. NiSource had a net margin of 14.67% and a return on equity of 8.41%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the previous year, the company posted $0.85 EPS. Sell-side analysts predict that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's payout ratio is presently 60.54%.

Insider Activity at NiSource

In related news, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total value of $233,590.18. Following the completion of the sale, the director now owns 18,541 shares of the company's stock, valued at approximately $701,035.21. The trade was a 24.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie B. Berman sold 6,227 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This represents a 17.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,405 shares of company stock valued at $631,939. 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.