Squarepoint Ops LLC Reduces Position in NiSource Inc. (NYSE:NI)

Squarepoint Ops LLC decreased its position in NiSource Inc. (NYSE:NI - Free Report) by 82.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,268 shares of the utilities provider's stock after selling 81,613 shares during the period. Squarepoint Ops LLC's holdings in NiSource were worth $635,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of NiSource by 88.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider's stock worth $516,373,000 after acquiring an additional 6,991,608 shares during the period. Blue Trust Inc. increased its position in shares of NiSource by 31.6% in the fourth quarter. Blue Trust Inc. now owns 6,051 shares of the utilities provider's stock worth $210,000 after purchasing an additional 1,453 shares during the period. Caprock Group LLC raised its position in shares of NiSource by 8.4% in the 4th quarter. Caprock Group LLC now owns 25,516 shares of the utilities provider's stock valued at $938,000 after buying an additional 1,984 shares in the last quarter. Spire Wealth Management bought a new stake in NiSource during the fourth quarter worth $39,000. Finally, Resonant Capital Advisors LLC grew its position in NiSource by 6.4% in the fourth quarter. Resonant Capital Advisors LLC now owns 7,171 shares of the utilities provider's stock valued at $264,000 after acquiring an additional 432 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

NiSource Trading Up 0.3%

NI traded up $0.11 during trading on Friday, reaching $39.10. The company had a trading volume of 2,222,578 shares, compared to its average volume of 4,113,238. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. The business has a 50 day simple moving average of $38.98 and a 200-day simple moving average of $38.33. The stock has a market cap of $18.40 billion, a P/E ratio of 24.13, a PEG ratio of 2.56 and a beta of 0.53. NiSource Inc. has a 52 week low of $27.83 and a 52 week high of $41.45.

NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same quarter last year, the business earned $0.85 EPS. On average, equities analysts anticipate that NiSource Inc. will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The company 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. The ex-dividend date is Thursday, July 31st. This represents a $1.12 annualized dividend and a yield of 2.86%. NiSource's dividend payout ratio (DPR) is currently 60.54%.

Insiders Place Their Bets

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total value 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. The trade was a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the sale, the director now owns 18,541 shares in the company, valued at $701,035.21. The trade was a 24.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,405 shares of company stock worth $631,939 in the last ninety days. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of NiSource from $38.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Mizuho lifted their target price 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. Guggenheim raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. BMO Capital Markets increased their target price on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, 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 note on Friday, March 21st. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, NiSource currently has a consensus rating of "Buy" and an average 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.