California State Teachers Retirement System Sells 18,909 Shares of NiSource Inc. (NYSE:NI)

California State Teachers Retirement System trimmed its holdings in shares of NiSource Inc. (NYSE:NIFree Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,299 shares of the utilities provider’s stock after selling 18,909 shares during the period. California State Teachers Retirement System owned 0.14% of NiSource worth $15,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NI. McGlone Suttner Wealth Management Inc. bought a new stake in shares of NiSource during the fourth quarter worth approximately $36,000. Lindbrook Capital LLC grew its holdings in NiSource by 46.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 491 shares during the period. Principal Securities Inc. acquired a new position in NiSource during the fourth quarter valued at approximately $50,000. Tobam grew its holdings in NiSource by 3,994.6% during the fourth quarter. Tobam now owns 2,293 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 2,237 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in NiSource by 38.1% during the third quarter. Loomis Sayles & Co. L P now owns 2,609 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 720 shares during the period. 91.64% of the stock is owned by institutional investors.

NiSource Stock Down 0.9 %

NiSource stock opened at $28.28 on Friday. The stock has a market capitalization of $12.68 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 2.80 and a beta of 0.51. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $29.44. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average of $28.12 and a 200-day moving average of $26.92.

NiSource (NYSE:NIGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. On average, equities research analysts anticipate that NiSource Inc. will post 1.71 EPS for the current fiscal year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, July 30th. NiSource’s payout ratio is 69.28%.

Insider Buying and Selling

In related news, SVP Melanie B. Berman sold 3,742 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total transaction of $104,626.32. Following the completion of the transaction, the senior vice president now owns 19,978 shares in the company, valued at $558,584.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NI has been the subject of a number of analyst reports. StockNews.com upgraded shares of NiSource from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Barclays boosted their price objective on shares of NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Evercore ISI boosted their price objective on shares of NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $31.00 price target (up previously from $30.00) on shares of NiSource in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

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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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