NiSource (NYSE:NI) CFO Shawn Anderson Sells 6,500 Shares of Stock

NiSource, Inc (NYSE:NI) CFO Shawn Anderson sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $45.00, for a total value of $292,500.00. Following the completion of the sale, the chief financial officer owned 160,080 shares in the company, valued at $7,203,600. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NiSource Stock Performance

NYSE:NI opened at $44.63 on Wednesday. The company has a market capitalization of $21.41 billion, a PE ratio of 22.89, a P/E/G ratio of 3.33 and a beta of 0.53. The company has a 50 day simple moving average of $41.37 and a two-hundred day simple moving average of $44.85. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.38 and a current ratio of 0.50. NiSource, Inc has a fifty-two week low of $38.42 and a fifty-two week high of $49.21.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. NiSource had a net margin of 13.56% and a return on equity of 8.16%. During the same quarter last year, the business earned $0.19 EPS. Research analysts anticipate that NiSource, Inc will post 2.06 earnings per share for the current year.

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. NiSource’s dividend payout ratio is 61.54%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. LADENBURG THALM/SH SH dropped their target price on shares of NiSource from $51.50 to $51.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Scotiabank started coverage on NiSource in a report on Tuesday, September 29th. They set a “sector perform” rating and a $43.00 price target for the company. Mizuho decreased their price target on NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. Wall Street Zen raised NiSource from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, KeyCorp dropped their price objective on NiSource from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in shares of NiSource by 53.1% during the third quarter. Parallel Advisors LLC now owns 8,918 shares of the utilities provider’s stock worth $348,000 after acquiring an additional 3,093 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of NiSource by 7.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 10,616 shares of the utilities provider’s stock worth $414,000 after acquiring an additional 745 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in NiSource by 69.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,126 shares of the utilities provider’s stock valued at $1,131,000 after acquiring an additional 10,679 shares in the last quarter. Ascent Group LLC lifted its position in NiSource by 8.1% in the 3rd quarter. Ascent Group LLC now owns 30,490 shares of the utilities provider’s stock valued at $1,189,000 after acquiring an additional 2,291 shares in the last quarter. Finally, Caldwell Trust Co lifted its position in NiSource by 46.6% in the 3rd quarter. Caldwell Trust Co now owns 871 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 277 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

NiSource Company Profile

NiSource Inc is a regulated energy holding company based in Merrillville, Indiana. Through its operating companies, the company provides natural gas distribution and electric utility services to residential, commercial and industrial customers.

NiSource’s natural gas operations include Columbia Gas utilities serving customers in several states, including Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana and provides both electric power and natural gas services.

The company’s operations include energy delivery infrastructure, utility system maintenance, customer services and investments intended to support reliability and the transition of its generation portfolio.