NiSource Inc. (NYSE:NI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in shares of NiSource Inc. (NYSE:NIFree Report) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,535,123 shares of the utilities provider’s stock after selling 435,302 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.37% of NiSource worth $40,758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NI. Norges Bank acquired a new position in NiSource in the 4th quarter valued at about $70,090,000. Franklin Resources Inc. grew its holdings in NiSource by 27.3% during the 4th quarter. Franklin Resources Inc. now owns 8,525,528 shares of the utilities provider’s stock worth $226,353,000 after acquiring an additional 1,826,202 shares in the last quarter. Truist Financial Corp increased its position in shares of NiSource by 303.4% in the 4th quarter. Truist Financial Corp now owns 814,955 shares of the utilities provider’s stock valued at $21,637,000 after purchasing an additional 612,919 shares during the last quarter. Maple Brown Abbott Ltd raised its holdings in shares of NiSource by 25.7% in the 4th quarter. Maple Brown Abbott Ltd now owns 2,786,453 shares of the utilities provider’s stock valued at $73,980,000 after purchasing an additional 568,980 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of NiSource during the 3rd quarter worth $13,918,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling

In other NiSource news, SVP Melanie B. Berman sold 3,742 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total transaction of $104,626.32. Following the completion of the sale, the senior vice president now directly owns 19,978 shares of the company’s stock, valued at approximately $558,584.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on NI shares. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Barclays boosted their target price on NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Evercore ISI increased their price target on shares of NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $31.00 price objective (up previously from $30.00) on shares of NiSource in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.71.

Get Our Latest Stock Report on NiSource

NiSource Trading Down 1.3 %

NI opened at $28.73 on Thursday. 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 Inc. has a 52 week low of $22.86 and a 52 week high of $29.44. The business’s 50 day moving average is $28.07 and its two-hundred day moving average is $26.90. The firm has a market cap of $12.88 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51.

NiSource (NYSE:NIGet Free Report) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.07 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same period in the previous year, the company posted $0.77 EPS. On average, research analysts predict that NiSource Inc. will post 1.71 EPS for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders 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 annualized dividend and a dividend yield of 3.69%. NiSource’s dividend payout ratio (DPR) is 69.28%.

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.

See Also

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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