Securian Asset Management Inc. Sells 3,562 Shares of NiSource Inc. (NYSE:NI)

Securian Asset Management Inc. cut its holdings in NiSource Inc. (NYSE:NIFree Report) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,093 shares of the utilities provider’s stock after selling 3,562 shares during the quarter. Securian Asset Management Inc.’s holdings in NiSource were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Beacon Pointe Advisors LLC boosted its position in NiSource by 3.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider’s stock valued at $350,000 after acquiring an additional 405 shares in the last quarter. Raymond James Trust N.A. boosted its position in NiSource by 4.9% during the 4th quarter. Raymond James Trust N.A. now owns 8,930 shares of the utilities provider’s stock valued at $237,000 after acquiring an additional 414 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in NiSource by 7.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 451 shares in the last quarter. Blue Trust Inc. boosted its position in NiSource by 16.7% during the 4th quarter. Blue Trust Inc. now owns 3,228 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 463 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in NiSource by 5.4% during the 4th quarter. Fifth Third Bancorp now owns 9,187 shares of the utilities provider’s stock valued at $244,000 after acquiring an additional 470 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Insider Buying and Selling at NiSource

In other NiSource news, SVP Melanie B. Berman sold 11,141 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 23,720 shares in the company, valued at approximately $632,375.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.13% of the company’s stock.

NiSource Price Performance

Shares of NYSE NI opened at $28.87 on Thursday. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $29.44. The firm has a market cap of $12.94 billion, a P/E ratio of 18.87, a PEG ratio of 2.85 and a beta of 0.49. The company has a 50 day moving average of $27.81 and a 200 day moving average of $26.70. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

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

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be paid 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 3.67%. NiSource’s dividend payout ratio is presently 69.28%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Barclays lifted their price objective on NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. BMO Capital Markets reissued an “outperform” rating and issued a $31.00 price target (up from $30.00) on shares of NiSource in a research report on Thursday, May 9th. Finally, Evercore ISI boosted their price target on NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.71.

Check Out Our Latest Stock Analysis on NiSource

NiSource Profile

(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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