TD Asset Management Inc Sells 136,083 Shares of NiSource, Inc (NYSE:NI)

Key Points

• TD Asset Management Inc reduced its stake in NiSource, Inc by 7.9%, now owning approximately 1,577,284 shares valued at $63.23 million.
• NiSource recently reported earnings of $0.98 per share, surpassing analysts' expectations, while its revenue for the quarter was $2.03 billion, below the forecast of $2.32 billion.
• The company announced a quarterly dividend of $0.28 per share, reflecting an annual yield of 2.65%, with the payment scheduled for August 20th.

TD Asset Management Inc decreased its position in NiSource, Inc (NYSE:NI - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,577,284 shares of the utilities provider's stock after selling 136,083 shares during the quarter. TD Asset Management Inc owned about 0.34% of NiSource worth $63,233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in NiSource by 10.1% during 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. Jennison Associates LLC grew its position in NiSource by 8.0% during the first quarter. Jennison Associates LLC now owns 11,577,832 shares of the utilities provider's stock worth $464,155,000 after buying an additional 857,653 shares in the last quarter. Geode Capital Management LLC grew its position in NiSource by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 11,448,075 shares of the utilities provider's stock worth $419,765,000 after buying an additional 700,747 shares in the last quarter. Millennium Management LLC grew its position in NiSource by 185.0% during the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock worth $339,837,000 after buying an additional 6,001,486 shares in the last quarter. Finally, Invesco Ltd. grew its position in NiSource by 49.5% during the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock worth $301,427,000 after buying an additional 2,714,262 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim increased their price target on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on 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 increased their price target on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. BMO Capital Markets increased their price target on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Barclays upped their target price on NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource has a consensus rating of "Buy" and an average price target of $41.50.

NiSource Price Performance

Shares of NI traded up $0.21 during trading hours on Thursday, reaching $42.40. The stock had a trading volume of 949,995 shares, compared to its average volume of 4,513,201. NiSource, Inc has a 12 month low of $30.53 and a 12 month high of $42.90. The stock has a market capitalization of $19.96 billion, a PE ratio of 22.91, a PEG ratio of 2.85 and a beta of 0.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.45 and a current ratio of 0.52. The company's 50-day moving average is $39.93 and its two-hundred day moving average is $39.23.

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

NiSource Dividend Announcement

The business 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 2.64%. The ex-dividend date is Thursday, July 31st. NiSource's dividend payout ratio is currently 60.54%.

Insider Buying and Selling at NiSource

In related news, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total transaction of $233,590.18. Following the completion of the transaction, the director directly owned 18,541 shares of the company's stock, valued at $701,035.21. This trade represents a 24.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the executive vice president directly owned 28,882 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders have sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is owned by corporate insiders.

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.