NiSource Inc. (NYSE:NI) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of NiSource Inc. (NYSE:NI) by 24.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 289,562 shares of the utilities provider’s stock after selling 92,035 shares during the period. Citigroup Inc. owned approximately 0.07% of NiSource worth $8,096,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NI. Benjamin F. Edwards & Company Inc. lifted its stake in shares of NiSource by 67.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,075 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 434 shares during the period. Allworth Financial LP raised its position in shares of NiSource by 161.0% in the first quarter. Allworth Financial LP now owns 1,099 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 678 shares during the period. Achmea Investment Management B.V. purchased a new stake in shares of NiSource during the 1st quarter worth about $33,000. Global Retirement Partners LLC grew its position in shares of NiSource by 897.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,197 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 1,077 shares during the period. Finally, US Asset Management LLC purchased a new position in shares of NiSource in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

NiSource Stock Performance

NYSE:NI opened at $26.76 on Friday. The company has a market cap of $11.06 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.42 and a beta of 0.47. NiSource Inc. has a twelve month low of $23.78 and a twelve month high of $30.83. The company’s 50-day moving average price is $27.20 and its 200-day moving average price is $27.48. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.71.

NiSource (NYSE:NI) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a return on equity of 10.90% and a net margin of 12.00%. During the same period last year, the business earned $0.12 earnings per share. On average, sell-side analysts forecast that NiSource Inc. will post 1.57 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 69.44%.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com lowered NiSource from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Bank of America cut their price target on shares of NiSource from $32.00 to $31.00 in a report on Thursday, June 22nd. BMO Capital Markets dropped their target price on shares of NiSource from $31.00 to $30.00 in a research report on Wednesday, June 21st. Evercore ISI reduced their price target on shares of NiSource from $31.00 to $30.00 in a research report on Wednesday, June 21st. Finally, UBS Group raised shares of NiSource from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Buying and Selling at NiSource

In other news, EVP William Jr. Jefferson sold 4,875 shares of NiSource stock in a transaction on Friday, August 4th. The stock was sold at an average price of $26.80, for a total transaction of $130,650.00. Following the transaction, the executive vice president now owns 30,905 shares in the company, valued at approximately $828,254. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NiSource news, EVP Donald Eugene Brown sold 14,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $26.64, for a total transaction of $372,960.00. Following the completion of the sale, the executive vice president now owns 187,278 shares of the company’s stock, valued at $4,989,085.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William Jr. Jefferson sold 4,875 shares of NiSource stock in a transaction on Friday, August 4th. The shares were sold at an average price of $26.80, for a total value of $130,650.00. Following the completion of the sale, the executive vice president now owns 30,905 shares in the company, valued at approximately $828,254. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.