Retirement Systems of Alabama Sells 2,361 Shares of NiSource Inc. (NYSE:NI)

Retirement Systems of Alabama decreased its holdings in NiSource Inc. (NYSE:NI) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,079 shares of the utilities provider’s stock after selling 2,361 shares during the period. Retirement Systems of Alabama’s holdings in NiSource were worth $2,418,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of NiSource during the 4th quarter worth about $36,000. Lindbrook Capital LLC boosted its holdings in shares of NiSource by 46.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 491 shares during the period. Allworth Financial LP grew its position in shares of 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 purchasing an additional 985 shares during the last quarter. Sentry Investment Management LLC bought a new position in shares of NiSource during the third quarter worth approximately $55,000. Finally, Tobam lifted its holdings in NiSource by 3,994.6% during the 4th quarter. Tobam now owns 2,293 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 2,237 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NiSource

In other news, SVP Melanie B. Berman sold 11,141 shares of the firm’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 transaction, the senior vice president now owns 23,720 shares of the company’s stock, valued at $632,375.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Barclays raised their price target on shares of NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd.

NiSource Price Performance

Shares of NYSE:NI opened at $29.05 on Wednesday. NiSource Inc. has a one year low of $22.86 and a one year high of $29.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.85 and a quick ratio of 0.76. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.78 and a beta of 0.49. The firm has a 50 day simple moving average of $27.29 and a 200 day simple moving average of $26.43.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.59 billion. NiSource had a net margin of 12.98% and a return on equity of 10.10%. During the same quarter in the previous year, the company posted $0.50 earnings per share. Research analysts predict that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, April 29th. NiSource’s dividend payout ratio is currently 72.11%.

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.