Strs Ohio decreased its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,270,674 shares of the utilities provider's stock after selling 207,495 shares during the period. Strs Ohio owned about 0.31% of NiSource worth $33,736,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NI. Oak Thistle LLC purchased a new stake in NiSource during the fourth quarter valued at approximately $1,049,000. IFP Advisors Inc increased its stake in shares of NiSource by 5.9% in the third quarter. IFP Advisors Inc now owns 14,036 shares of the utilities provider's stock worth $346,000 after purchasing an additional 777 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NiSource by 19.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 803,652 shares of the utilities provider's stock worth $21,337,000 after purchasing an additional 128,497 shares in the last quarter. LPL Financial LLC increased its stake in shares of NiSource by 54.0% in the third quarter. LPL Financial LLC now owns 201,128 shares of the utilities provider's stock worth $4,964,000 after purchasing an additional 70,487 shares in the last quarter. Finally, Westover Capital Advisors LLC purchased a new stake in shares of NiSource in the third quarter worth $2,053,000. Institutional investors own 91.64% of the company's stock.
Insider Buying and Selling at NiSource
In other news, SVP Melanie B. Berman sold 11,141 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the completion of the sale, the senior vice president now owns 23,720 shares in the company, valued at approximately $632,375.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
NI has been the subject of a number of analyst reports. Barclays increased their price objective on shares of NiSource from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. StockNews.com raised shares of NiSource from a "sell" rating to a "hold" rating in a research note on Saturday, February 24th.
Check Out Our Latest Stock Report on NiSource
NiSource Price Performance
NI traded down $0.26 during trading on Tuesday, hitting $26.56. 3,210,818 shares of the company traded hands, compared to its average volume of 4,259,606. The company has a market cap of $11.90 billion, a PE ratio of 18.07, a P/E/G ratio of 2.64 and a beta of 0.49. The stock's 50-day simple moving average is $26.59 and its two-hundred day simple moving average is $26.12. NiSource Inc. has a 1 year low of $22.86 and a 1 year high of $28.95. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15.
NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). NiSource had a net margin of 12.98% and a return on equity of 10.10%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business earned $0.50 EPS. As a group, sell-side analysts anticipate that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.
NiSource Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.06 annualized dividend and a yield of 3.99%. NiSource's dividend payout ratio (DPR) is currently 72.11%.
About NiSource
(
Free Report)
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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