UniSuper Management Pty Ltd Sells 3,312 Shares of NiSource, Inc $NI

UniSuper Management Pty Ltd reduced its stake in NiSource, Inc (NYSE:NI) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,053 shares of the utilities provider’s stock after selling 3,312 shares during the period. UniSuper Management Pty Ltd’s holdings in NiSource were worth $2,367,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock worth $31,000 after buying an additional 299 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of NiSource by 48.8% during the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 266 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of NiSource by 44.7% during the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 310 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of NiSource by 57.3% during the first quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 499 shares during the last quarter. Finally, Hemington Wealth Management lifted its holdings in shares of NiSource by 39.4% during the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 438 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

NiSource Price Performance

Shares of NYSE NI opened at $40.52 on Wednesday. NiSource, Inc has a twelve month low of $33.03 and a twelve month high of $43.51. The firm has a market cap of $19.08 billion, a P/E ratio of 21.55, a PEG ratio of 2.72 and a beta of 0.60. The company has a 50 day moving average of $41.45 and a 200 day moving average of $40.03. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $0.21 EPS. As a group, research analysts expect that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 31st. NiSource’s payout ratio is presently 59.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NI shares. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Barclays reiterated an “overweight” rating and set a $44.00 target price (up from $42.00) on shares of NiSource in a report on Monday, August 4th. Zacks Research upgraded shares of NiSource to a “hold” rating in a report on Monday, August 11th. Finally, Jefferies Financial Group lowered shares of NiSource from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $44.00 in a report on Friday, September 5th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.11.

NiSource 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.