Sequoia Financial Advisors LLC Sells 134,856 Shares of NiSource, Inc (NYSE:NI)

Sequoia Financial Advisors LLC lowered its stake in NiSource, Inc (NYSE:NI - Free Report) by 82.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,188 shares of the utilities provider's stock after selling 134,856 shares during the quarter. Sequoia Financial Advisors LLC's holdings in NiSource were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moran Wealth Management LLC lifted its stake in NiSource by 5.2% in the 1st quarter. Moran Wealth Management LLC now owns 97,470 shares of the utilities provider's stock worth $3,908,000 after acquiring an additional 4,801 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of NiSource in the 1st quarter valued at about $218,000. Chevy Chase Trust Holdings LLC lifted its position in shares of NiSource by 0.6% in the first quarter. Chevy Chase Trust Holdings LLC now owns 246,461 shares of the utilities provider's stock worth $9,881,000 after purchasing an additional 1,516 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of NiSource by 14.0% during the first quarter. Asset Management One Co. Ltd. now owns 358,469 shares of the utilities provider's stock worth $14,371,000 after purchasing an additional 43,947 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in NiSource by 1.5% during the first quarter. Oppenheimer & Co. Inc. now owns 72,593 shares of the utilities provider's stock valued at $2,910,000 after purchasing an additional 1,060 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Price Performance

NYSE NI traded down $0.65 during trading hours on Wednesday, reaching $39.41. 3,878,942 shares of the company's stock were exchanged, compared to its average volume of 4,136,728. The firm has a fifty day moving average of $39.36 and a 200-day moving average of $38.63. NiSource, Inc has a one year low of $28.42 and a one year high of $41.45. The stock has a market cap of $18.55 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 1.17.

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

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders 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 2.84%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is presently 60.54%.

Insider Activity at NiSource

In other news, Director Michael E. Jesanis sold 6,178 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the transaction, the director owned 18,541 shares of the company's stock, valued at $701,035.21. This represents a 24.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total value 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. This represents a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.