ING Groep NV cut its stake in NiSource Inc. (NYSE:NI) by 52.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,504 shares of the utilities provider’s stock after selling 18,083 shares during the period. ING Groep NV’s holdings in NiSource were worth $403,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NI. WFG Advisors LP boosted its position in shares of NiSource by 14,596.4% in the fourth quarter. WFG Advisors LP now owns 4,115 shares of the utilities provider’s stock worth $104,000 after buying an additional 4,087 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of NiSource during the first quarter worth about $108,000. TCI Wealth Advisors Inc. boosted its position in NiSource by 0.5% in the third quarter. TCI Wealth Advisors Inc. now owns 4,694 shares of the utilities provider’s stock valued at $113,000 after buying an additional 23 shares in the last quarter. Financial Architects Inc boosted its position in NiSource by 4,163.5% in the third quarter. Financial Architects Inc now owns 4,903 shares of the utilities provider’s stock valued at $118,000 after buying an additional 4,788 shares in the last quarter. Finally, First Financial Corp IN bought a new position in NiSource during the first quarter valued at about $124,000. 83.27% of the stock is currently owned by institutional investors.
NiSource Inc. (NYSE:NI) traded up 0.20% on Friday, hitting $24.55. The stock had a trading volume of 1,232,098 shares. The company has a 50-day moving average of $24.09 and a 200 day moving average of $22.90. NiSource Inc. has a 12 month low of $21.17 and a 12 month high of $26.94. The company has a market cap of $7.97 billion, a PE ratio of 22.44 and a beta of 0.29.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.06. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.51 billion. NiSource had a return on equity of 8.76% and a net margin of 6.87%. During the same quarter in the previous year, the firm posted $0.62 earnings per share. On average, analysts predict that NiSource Inc. will post $1.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, July 27th. NiSource’s dividend payout ratio is presently 76.09%.
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NI has been the topic of several research analyst reports. Ladenburg Thalmann Financial Services initiated coverage on shares of NiSource in a research note on Friday. They set a “buy” rating and a $27.00 target price on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 price objective on shares of NiSource in a research note on Friday, March 31st. Finally, Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating and set a $26.00 price objective on the stock in a research note on Friday, March 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. NiSource has an average rating of “Hold” and an average price target of $25.31.
In related news, EVP Violet Sistovaris sold 38,550 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $24.25, for a total value of $934,837.50. Following the transaction, the executive vice president now owns 185,186 shares in the company, valued at $4,490,760.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jimmie L. Stanley sold 37,325 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $24.11, for a total value of $899,905.75. Following the completion of the transaction, the chief operating officer now owns 315,471 shares in the company, valued at approximately $7,606,005.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,875 shares of company stock worth $2,696,103. 0.32% of the stock is currently owned by insiders.
NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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