NiSource, Inc (NYSE:NI) Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reduced its investment in NiSource, Inc by 28.9% in the first quarter, now holding 9,973,030 shares worth approximately $399.8 million.
• Other institutional investors are also adjusting their stakes, with Canada Post Corp purchasing new shares and MassMutual Private Wealth & Trust increasing its holdings by 64.2%.
• NiSource reported earnings of $0.22 per share for the last quarter, exceeding analyst expectations, with an expected annual EPS of 1.91.

JPMorgan Chase & Co. lessened its stake in NiSource, Inc (NYSE:NI - Free Report) by 28.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,973,030 shares of the utilities provider's stock after selling 4,045,521 shares during the quarter. JPMorgan Chase & Co. owned 2.12% of NiSource worth $399,819,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Canada Post Corp Registered Pension Plan purchased a new position in shares of NiSource in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in 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 acquiring an additional 299 shares in the last quarter. Larson Financial Group LLC increased its holdings in NiSource by 48.8% during the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 266 shares in the last quarter. Quent Capital LLC increased its holdings in NiSource by 44.7% during the 1st quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 310 shares in the last quarter. Finally, Optiver Holding B.V. increased its holdings in NiSource by 105.0% during the 4th quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 656 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Price Performance

NI opened at $42.17 on Tuesday. The company's 50 day simple moving average is $40.48 and its 200 day simple moving average is $39.52. 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 1 year low of $31.28 and a 1 year high of $43.51. The stock has a market capitalization of $19.86 billion, a PE ratio of 22.43, a P/E/G ratio of 2.86 and a beta of 0.53.

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

Analyst Ratings Changes

NI has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Guggenheim raised their target price on shares of NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. BMO Capital Markets raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Wall Street Zen cut shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.56.

Insider Buying and Selling

In other news, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction that occurred 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 sale, the executive vice president owned 28,882 shares in the company, valued at $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the sale, the director owned 18,541 shares in the company, valued at $701,035.21. This represents a 24.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

About NiSource

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.

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