NiSource, Inc $NI Shares Sold by Thomasville National Bank

Key Points

• Thomasville National Bank reduced its shares in NiSource, Inc by 1.7%, selling 9,779 shares and now owning 572,044 shares worth approximately $23.08 million.
• NiSource announced a quarterly dividend of $0.28, payable on November 20th, with an annualized yield of 2.8% and a payout ratio of 59.57%.
• Analysts have mixed ratings for NiSource, with target prices ranging from $44.00 to $43.88, and the stock is currently rated as "Moderate Buy."

Thomasville National Bank lowered its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 572,044 shares of the utilities provider's stock after selling 9,779 shares during the period. NiSource accounts for approximately 1.6% of Thomasville National Bank's investment portfolio, making the stock its 23rd biggest holding. Thomasville National Bank owned approximately 0.12% of NiSource worth $23,076,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NI. MassMutual Private Wealth & Trust FSB lifted its holdings in NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock worth $31,000 after buying an additional 299 shares during the period. Larson Financial Group LLC lifted its stake in shares of 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 buying an additional 266 shares in the last quarter. Quent Capital LLC increased its holdings in NiSource by 44.7% in 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 during the last quarter. Brooklyn Investment Group increased its holdings in shares of NiSource by 57.3% in the 1st quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider's stock worth $55,000 after buying an additional 499 shares during the last quarter. Finally, Hemington Wealth Management grew its holdings in NiSource by 39.4% during the 1st quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock valued at $62,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NI. Zacks Research upgraded shares of NiSource to a "hold" rating in a research report on Monday, August 11th. Barclays reaffirmed an "overweight" rating and set a $44.00 price target (up from $42.00) on shares of NiSource in a research note on Monday, August 4th. Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group cut NiSource from a "buy" rating to a "hold" rating and cut their target price for the company from $48.00 to $44.00 in a research note on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.88.

NiSource Trading Up 0.2%

Shares of NYSE NI traded up $0.10 during trading on Tuesday, reaching $41.40. The company had a trading volume of 1,372,262 shares, compared to its average volume of 4,497,812. The company's fifty day moving average price is $41.63 and its 200-day moving average price is $40.07. The stock has a market cap of $19.49 billion, a P/E ratio of 22.04, a PEG ratio of 2.73 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. NiSource, Inc has a 12 month low of $33.65 and a 12 month high of $43.51.

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

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 31st. NiSource's dividend payout ratio is 59.57%.

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.