NiSource Inc. (NYSE:NI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in NiSource Inc. (NYSE:NIFree Report) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,104,416 shares of the utilities provider’s stock after selling 944,982 shares during the quarter. Vanguard Group Inc. owned 12.60% of NiSource worth $1,285,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. purchased a new stake in shares of NiSource during the first quarter worth about $33,000. Ancora Advisors LLC purchased a new stake in shares of NiSource during the fourth quarter worth about $40,000. Global Retirement Partners LLC increased its stake in shares of NiSource by 41.4% during the third quarter. Global Retirement Partners LLC now owns 1,698 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 497 shares in the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of NiSource during the second quarter worth about $42,000. Finally, Money Concepts Capital Corp purchased a new stake in shares of NiSource during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Transactions at NiSource

In related news, SVP Melanie B. Berman sold 11,141 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total transaction of $297,019.06. Following the sale, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com raised shares of NiSource from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Barclays boosted their target price on shares of NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd.

Check Out Our Latest Report on NiSource

NiSource Stock Performance

NI opened at $26.66 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $11.93 billion, a PE ratio of 18.13, a PEG ratio of 2.15 and a beta of 0.49. The firm’s 50-day moving average price is $26.09 and its 200 day moving average price is $26.04. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $28.95.

NiSource (NYSE:NIGet Free Report) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). NiSource had a net margin of 12.98% and a return on equity of 10.10%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, sell-side analysts expect that NiSource Inc. will post 1.71 EPS for the current fiscal year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were issued a $0.265 dividend. This is a positive change from NiSource’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, February 2nd. NiSource’s dividend payout ratio is currently 72.11%.

About NiSource

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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