NiSource Inc. (NYSE:NI) Stake Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its stake in NiSource Inc. (NYSE:NI) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,643 shares of the utilities provider’s stock after selling 1,080 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in NiSource were worth $377,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. BOKF NA increased its holdings in NiSource by 104.7% in the first quarter. BOKF NA now owns 179,472 shares of the utilities provider’s stock valued at $4,932,000 after buying an additional 91,778 shares during the last quarter. Magnetar Financial LLC acquired a new position in NiSource in the first quarter worth $3,577,000. DC Investments Management LLC acquired a new stake in NiSource during the first quarter worth about $1,018,000. Shell Asset Management Co. raised its position in shares of NiSource by 43.0% during the 1st quarter. Shell Asset Management Co. now owns 75,662 shares of the utilities provider’s stock worth $2,093,000 after purchasing an additional 22,742 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of NiSource in the 1st quarter worth approximately $31,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Stock Performance

Shares of NI traded down $0.02 during trading hours on Monday, reaching $31.31. 723,348 shares of the company’s stock traded hands, compared to its average volume of 4,222,655. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 3.03 and a beta of 0.51. The business’s fifty day simple moving average is $29.00 and its two-hundred day simple moving average is $27.63. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $31.55. 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 released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate 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 firm earned $0.77 EPS. Analysts predict that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The company also recently declared 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 yield of 3.39%. The ex-dividend date is Wednesday, July 31st. NiSource’s payout ratio is currently 69.28%.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.