Tidal Investments LLC Sells 19,717 Shares of NiSource Inc. (NYSE:NI)

Tidal Investments LLC lessened its holdings in shares of NiSource Inc. (NYSE:NI - Free Report) by 55.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,834 shares of the utilities provider's stock after selling 19,717 shares during the quarter. Tidal Investments LLC's holdings in NiSource were worth $582,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in NiSource by 88.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider's stock valued at $516,373,000 after purchasing an additional 6,991,608 shares in the last quarter. Millennium Management LLC raised its holdings in NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider's stock valued at $339,837,000 after acquiring an additional 6,001,486 shares in the last quarter. Capital International Investors purchased a new position in NiSource in the fourth quarter worth approximately $219,977,000. Norges Bank purchased a new position in NiSource in the fourth quarter worth approximately $195,745,000. Finally, Invesco Ltd. grew its holdings in NiSource by 49.5% during the 4th quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock worth $301,427,000 after acquiring an additional 2,714,262 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Price Performance

NI stock traded up $0.50 during trading on Friday, reaching $39.49. 6,150,858 shares of the company were exchanged, compared to its average volume of 4,160,783. NiSource Inc. has a 52-week low of $27.83 and a 52-week high of $41.45. The company has a market cap of $18.59 billion, a P/E ratio of 24.38, a PEG ratio of 2.56 and a beta of 0.53. The stock's 50 day moving average price is $39.03 and its 200 day moving average price is $38.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.32 billion. NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, 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. Investors of record on Thursday, July 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.84%. NiSource's payout ratio is 60.54%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NI. Barclays boosted their target price on shares of NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. BMO Capital Markets boosted their target price on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. UBS Group increased their price target on shares of NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Guggenheim boosted their target price on NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective 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. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $41.50.

Insider Buying and Selling

In other NiSource news, Director Michael E. Jesanis sold 6,178 shares of the business'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 now owns 18,541 shares in the company, valued at approximately $701,035.21. The trade was a 24.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

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.