NiSource Inc. (NYSE:NI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of NiSource Inc. (NYSE:NI – Get Rating) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,016,071 shares of the utilities provider’s stock after selling 39,925 shares during the quarter. Bank of New York Mellon Corp’s holdings in NiSource were worth $151,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in NiSource by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 52,613,623 shares of the utilities provider’s stock valued at $1,673,113,000 after acquiring an additional 5,153,843 shares during the period. BlackRock Inc. grew its stake in NiSource by 1.9% in the 3rd quarter. BlackRock Inc. now owns 41,079,529 shares of the utilities provider’s stock valued at $1,034,796,000 after acquiring an additional 760,163 shares during the period. State Street Corp grew its stake in NiSource by 7.9% in the 2nd quarter. State Street Corp now owns 26,107,243 shares of the utilities provider’s stock valued at $769,903,000 after acquiring an additional 1,914,399 shares during the period. FMR LLC grew its stake in NiSource by 7.7% in the 2nd quarter. FMR LLC now owns 9,779,748 shares of the utilities provider’s stock valued at $288,404,000 after acquiring an additional 695,846 shares during the period. Finally, National Bank of Canada FI grew its stake in NiSource by 16,086.4% in the 3rd quarter. National Bank of Canada FI now owns 6,135,942 shares of the utilities provider’s stock valued at $154,592,000 after acquiring an additional 6,098,034 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BMO Capital Markets raised their price objective on NiSource from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Wells Fargo & Company raised their price objective on NiSource to $31.00 in a report on Wednesday, December 14th. Finally, StockNews.com assumed coverage on NiSource in a report on Thursday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

NiSource Stock Down 1.8 %

NYSE NI opened at $27.47 on Friday. NiSource Inc. has a 52 week low of $23.78 and a 52 week high of $32.58. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $27.39 and its 200-day simple moving average is $27.15. The firm has a market cap of $11.33 billion, a PE ratio of 16.16, a P/E/G ratio of 2.61 and a beta of 0.46.

NiSource (NYSE:NI – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. NiSource had a return on equity of 11.13% and a net margin of 13.51%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. As a group, equities analysts anticipate that NiSource Inc. will post 1.57 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Friday, April 28th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $1.00 annualized dividend and a yield of 3.64%. NiSource’s dividend payout ratio (DPR) is currently 58.82%.

About NiSource

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NiSource, Inc is a holding company, which engages in the provision of energy solutions. It operates under the Gas Distribution Operations and Electric Operations segments. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial, and industrial customers.