NiSource Inc. (NYSE:NI) Stock Position Lowered by 1832 Asset Management L.P.

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

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

Analyst Upgrades and Downgrades

NI has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of NiSource from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI raised their price target on NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. BMO Capital Markets lifted their price target on NiSource from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Mizuho started coverage on shares of NiSource in a research report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.50.

NiSource Trading Up 0.8 %

NYSE NI traded up $0.25 on Friday, reaching $31.33. The company had a trading volume of 2,162,265 shares, compared to its average volume of 3,607,766. NiSource Inc. has a fifty-two week low of $22.86 and a fifty-two week 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. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 3.03 and a beta of 0.50. The business has a 50 day moving average of $29.00 and a two-hundred day moving average of $27.63.

NiSource (NYSE:NI) last posted 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. NiSource had a net margin of 14.23% and a return on equity of 9.56%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $0.77 earnings per share. Analysts forecast that NiSource Inc. will post 1.72 EPS for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders 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 payout ratio is 69.28%.

Insider Buying and Selling at NiSource

In other NiSource news, SVP Melanie B. Berman sold 3,742 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $27.96, for a total value of $104,626.32. Following the completion of the transaction, the senior vice president now owns 19,978 shares in the company, valued at approximately $558,584.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

NiSource Company 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.