NiSource Inc. (NYSE:NI) Stock Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in NiSource Inc. (NYSE:NI) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,449 shares of the utilities provider’s stock after selling 7,812 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in NiSource were worth $623,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of NiSource during the 4th quarter valued at about $36,000. Global Retirement Partners LLC raised its position in NiSource by 41.4% during the third quarter. Global Retirement Partners LLC now owns 1,698 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 497 shares in the last quarter. Allworth Financial LP lifted its stake in NiSource by 82.5% in the third quarter. Allworth Financial LP now owns 2,179 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 985 shares during the last quarter. Sentry Investment Management LLC acquired a new position in shares of NiSource during the 3rd quarter worth $55,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of NiSource during the 3rd quarter worth $62,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Stock Performance

NYSE:NI opened at $28.10 on Friday. The firm has a market capitalization of $12.59 billion, a PE ratio of 19.12, a PEG ratio of 2.72 and a beta of 0.49. NiSource Inc. has a 1 year low of $22.86 and a 1 year high of $28.95. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $26.92 and its 200 day simple moving average is $26.27.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). NiSource had a net margin of 12.98% and a return on equity of 10.10%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $0.50 earnings per share. On average, sell-side analysts anticipate that NiSource Inc. will post 1.71 EPS for the current year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.265 per share. The ex-dividend date is Monday, April 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.77%. NiSource’s dividend payout ratio (DPR) is presently 72.11%.

Insider Activity

In other NiSource news, SVP Melanie B. Berman sold 11,141 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $26.66, for a total value of $297,019.06. Following the completion of the sale, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of NiSource from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Barclays upped their price target on NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd.

NiSource Company 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.