NiSource, Inc (NYSE:NI) Plans Quarterly Dividend of $0.28

Key Points

• NiSource, Inc. declared a quarterly dividend of $0.28 per share, which will be paid on November 20th to stockholders of record by October 31st, representing an annualized payout and a yield of 2.6%.
• The company's dividend payout ratio stands at 55.7%, indicating that the dividend is well covered by earnings, with projections expecting earnings of $2.03 per share next year.
• NiSource's stock price increased by 0.5% during trading, reaching $42.37, while the company maintains a substantial market cap of nearly $20 billion.

NiSource, Inc (NYSE:NI - Get Free Report) declared a quarterly dividend on Tuesday, August 12th, RTT News reports. Stockholders of record on Friday, October 31st will be given a dividend of 0.28 per share by the utilities provider on Thursday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%.

NiSource has a dividend payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NiSource to earn $2.03 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 55.2%.

NiSource Trading Up 0.5%

Shares of NYSE:NI traded up $0.22 during trading on Tuesday, reaching $42.37. The stock had a trading volume of 3,486,002 shares, compared to its average volume of 4,544,944. The business has a fifty day moving average price of $40.48 and a 200-day moving average price of $39.52. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The stock has a market cap of $19.95 billion, a P/E ratio of 22.53, a PEG ratio of 2.86 and a beta of 0.53. NiSource has a fifty-two week low of $31.40 and a fifty-two week 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, topping the consensus estimate of $0.21 by $0.01. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $0.21 earnings per share. As a group, analysts anticipate that NiSource will post 1.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the completion of the sale, the executive vice president directly owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Jesanis sold 6,178 shares of the stock in a transaction on 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 trade represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in shares of NiSource by 185.0% in the 4th 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 during the last quarter. Capital International Investors bought a new stake in NiSource in the 4th quarter valued at about $219,977,000. Vanguard Group Inc. lifted its position in NiSource by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock valued at $2,439,236,000 after purchasing an additional 3,050,420 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in NiSource by 12.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider's stock valued at $962,997,000 after purchasing an additional 2,650,827 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in NiSource by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,535,924 shares of the utilities provider's stock valued at $221,935,000 after purchasing an additional 2,605,923 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.

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.

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