1832 Asset Management L.P. Lowers Stock Holdings in NiSource Inc. (NYSE:NI)

1832 Asset Management L.P. lowered its position in NiSource Inc. (NYSE:NI) by 97.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 52,309 shares of the utilities provider’s stock after selling 1,759,138 shares during the period. 1832 Asset Management L.P.’s holdings in NiSource were worth $1,447,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NI. Crewe Advisors LLC purchased a new stake in shares of NiSource during the 1st quarter valued at approximately $31,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter worth $31,000. McGlone Suttner Wealth Management Inc. purchased a new position in NiSource in the fourth quarter valued at approximately $36,000. Fidelis Capital Partners LLC acquired a new stake in shares of NiSource during the first quarter worth about $43,000. Finally, Lindbrook Capital LLC boosted its stake in NiSource by 46.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 491 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Performance

Shares of NYSE NI traded up $0.25 during midday trading on Friday, hitting $31.33. 2,162,265 shares of the company’s stock were exchanged, compared to its average volume of 3,607,766. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $31.55. The firm has a market cap of $14.05 billion, a P/E ratio of 20.48, a PEG ratio of 3.03 and a beta of 0.50. The stock’s 50 day moving average price is $29.00 and its 200-day moving average price is $27.63. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.07 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same period in the previous year, the business earned $0.77 earnings per share. Equities research analysts anticipate that NiSource Inc. will post 1.72 EPS for the current year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, July 31st. NiSource’s dividend payout ratio (DPR) is currently 69.28%.

Analysts Set New Price Targets

Several research analysts recently issued reports on NI shares. Evercore ISI increased their price target on shares of NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Mizuho initiated coverage on shares of NiSource in a research note on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective for the company. BMO Capital Markets raised their price target on shares of NiSource from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Barclays raised their price target on NiSource from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Insider Transactions at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total transaction of $104,626.32. Following the completion of the sale, the senior vice president now directly owns 19,978 shares of the company’s stock, valued at approximately $558,584.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.13% of the company’s stock.

About NiSource

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.