NiSource Inc. (NYSE:NI) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. trimmed its holdings in NiSource Inc. (NYSE:NIFree Report) by 11.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 52,920 shares of the utilities provider’s stock after selling 6,646 shares during the period. Shell Asset Management Co.’s holdings in NiSource were worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC purchased a new position in shares of NiSource in the 4th quarter worth about $204,000. Quadrature Capital Ltd purchased a new position in shares of NiSource in the 4th quarter worth about $1,670,000. Teilinger Capital Ltd. purchased a new position in shares of NiSource in the 4th quarter worth about $19,934,000. Prudential PLC raised its holdings in shares of NiSource by 1,088.5% in the 4th quarter. Prudential PLC now owns 365,027 shares of the utilities provider’s stock worth $9,691,000 after purchasing an additional 334,313 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC purchased a new position in shares of NiSource in the 4th quarter worth about $244,000. 91.64% of the stock is owned by institutional investors and hedge funds.

NiSource Price Performance

Shares of NI opened at $28.43 on Tuesday. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.76 and a beta of 0.51. The stock has a 50 day moving average of $28.13 and a 200-day moving average of $26.95. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20. NiSource Inc. has a 52 week low of $22.86 and a 52 week high of $29.44.

NiSource (NYSE:NIGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, analysts forecast that NiSource Inc. will post 1.71 EPS for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.06 dividend on an annualized basis and a yield of 3.73%. NiSource’s dividend payout ratio is currently 69.28%.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

NI has been the topic of several analyst reports. Barclays raised their target price on NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Evercore ISI raised their target price on NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. BMO Capital Markets reiterated an “outperform” rating and set a $31.00 target price (up from $30.00) on shares of NiSource in a report on Thursday, May 9th. Finally, StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average price target of $29.50.

Get Our Latest Stock Analysis on NI

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.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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