NiSource, Inc (NYSE:NI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in NiSource, Inc (NYSE:NI - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 242,828 shares of the utilities provider's stock after selling 9,370 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of NiSource worth $9,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position 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 worth $339,837,000 after purchasing an additional 6,001,486 shares during the period. Capital International Investors purchased a new stake in NiSource during the 4th quarter valued at approximately $219,977,000. Invesco Ltd. raised its position in shares of NiSource by 49.5% during 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 during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of NiSource by 10.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider's stock worth $785,563,000 after buying an additional 1,965,334 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new position in NiSource during the fourth quarter valued at $47,389,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Trading Up 0.3%

NI traded up $0.13 on Friday, reaching $42.58. 3,260,437 shares of the company traded hands, compared to its average volume of 3,879,042. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. The company has a market cap of $20.04 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53. The firm has a fifty day simple moving average of $40.01 and a two-hundred day simple moving average of $39.27. NiSource, Inc has a one year low of $30.53 and a one year high of $42.90.

NiSource (NYSE:NI - Get Free Report) last released 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. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. NiSource had a net margin of 14.67% and a return on equity of 8.41%. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, equities research analysts expect that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's dividend payout ratio is currently 60.54%.

Insider Transactions at NiSource

In other news, Director Michael E. Jesanis sold 6,178 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total transaction of $233,590.18. Following the transaction, the director owned 18,541 shares in the company, valued at $701,035.21. This represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the executive vice president directly owned 28,882 shares in the company, 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. Over the last quarter, insiders sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NI has been the topic of several research analyst reports. BMO Capital Markets boosted 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. Guggenheim raised their price target on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Barclays upped their price objective on NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target 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. Finally, 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 note on Thursday, May 8th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $41.50.

NiSource 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.