NiSource, Inc (NYSE:NI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in NiSource, Inc (NYSE:NI) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 877,622 shares of the utilities provider’s stock after selling 8,827 shares during the period. Retirement Systems of Alabama owned 0.19% of NiSource worth $35,184,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NI. Canada Post Corp Registered Pension Plan acquired a new position in shares of NiSource during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of NiSource by 64.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 299 shares during the period. Quent Capital LLC increased its holdings in shares of NiSource by 44.7% during the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 310 shares during the period. Optiver Holding B.V. increased its holdings in shares of NiSource by 105.0% during the fourth quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 656 shares during the period. Finally, Bellwether Advisors LLC acquired a new position in shares of NiSource during the fourth quarter valued at $55,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael E. Jesanis sold 4,000 shares of NiSource stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $152,880.00. Following the transaction, the director now owns 24,719 shares of the company’s stock, valued at approximately $944,760.18. This trade represents a 13.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Melanie B. Berman sold 6,227 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $39.42, for a total value of $245,468.34. Following the sale, the executive vice president now owns 28,882 shares of the company’s stock, valued at $1,138,528.44. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,405 shares of company stock valued at $631,939. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NI shares. Barclays raised their price target on NiSource from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Wells Fargo & Company raised their price target on NiSource from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Mizuho raised their price target on NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. UBS Group lifted their target price on NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. lifted their target price on NiSource from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $41.50.

NiSource Price Performance

NYSE:NI opened at $39.51 on Friday. The business’s 50-day moving average price is $39.20 and its 200 day moving average price is $38.46. The firm has a market cap of $18.60 billion, a P/E ratio of 21.35, a PEG ratio of 2.66 and a beta of 0.54. NiSource, Inc has a 52-week low of $28.27 and a 52-week high of $41.45. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last issued 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 firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.32 billion. NiSource had a return on equity of 8.41% and a net margin of 14.67%. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts predict that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a $0.28 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.84%. NiSource’s dividend payout ratio is currently 60.54%.

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.