NiSource, Inc (NYSE:NI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in NiSource, Inc (NYSE:NI) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 242,828 shares of the utilities provider’s stock after selling 9,370 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of NiSource worth $9,735,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. American Century Companies Inc. grew its holdings in shares of NiSource by 3.5% during the fourth quarter. American Century Companies Inc. now owns 197,331 shares of the utilities provider’s stock valued at $7,254,000 after buying an additional 6,688 shares during the last quarter. LPL Financial LLC grew its stake in NiSource by 25.6% during the 4th quarter. LPL Financial LLC now owns 180,262 shares of the utilities provider’s stock valued at $6,626,000 after purchasing an additional 36,736 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings in shares of NiSource by 808.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 4,432 shares of the utilities provider’s stock valued at $163,000 after purchasing an additional 3,944 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of NiSource by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 139,166 shares of the utilities provider’s stock worth $5,116,000 after purchasing an additional 483 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of NiSource by 11.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 30,218 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 3,172 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling at NiSource

In related news, EVP Melanie B. Berman sold 6,227 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the transaction, the executive vice president directly owned 28,882 shares of the company’s stock, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of NiSource stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the completion of the sale, the director owned 18,541 shares in the company, valued at approximately $701,035.21. The trade was a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,405 shares of company stock worth $631,939. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NI. Barclays upped their target price on NiSource from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Guggenheim increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. BMO Capital Markets boosted their target price on shares of NiSource from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Wells Fargo & Company increased their price target on NiSource from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on NiSource from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $41.50.

NiSource Trading Up 0.7%

NI stock opened at $42.49 on Thursday. NiSource, Inc has a 52-week low of $30.53 and a 52-week high of $42.90. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17. The firm has a market cap of $20.00 billion, a P/E ratio of 22.97, a PEG ratio of 2.85 and a beta of 0.54. The company’s 50-day simple moving average is $39.93 and its 200-day simple moving average is $39.23.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. NiSource had a return on equity of 8.41% and a net margin of 14.67%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, equities analysts forecast that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource’s dividend payout ratio is presently 60.54%.

About NiSource

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.