NiSource Inc. (NYSE:NI) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of NiSource Inc. (NYSE:NIFree Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,033 shares of the utilities provider’s stock after selling 1,811 shares during the quarter. CIBC Asset Management Inc’s holdings in NiSource were worth $1,514,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NI. Kestra Private Wealth Services LLC acquired a new position in shares of NiSource during the 3rd quarter worth approximately $252,000. J.P. Morgan Private Wealth Advisors LLC increased its position in shares of NiSource by 2.4% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 66,742 shares of the utilities provider’s stock worth $1,647,000 after purchasing an additional 1,594 shares in the last quarter. Amalgamated Bank increased its position in shares of NiSource by 7.2% during the third quarter. Amalgamated Bank now owns 135,908 shares of the utilities provider’s stock worth $3,354,000 after purchasing an additional 9,164 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of NiSource by 6.6% during the third quarter. Janney Montgomery Scott LLC now owns 33,032 shares of the utilities provider’s stock worth $815,000 after purchasing an additional 2,045 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NiSource by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,411,584 shares of the utilities provider’s stock worth $84,198,000 after purchasing an additional 54,110 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Melanie B. Berman sold 3,742 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total value of $104,626.32. Following the transaction, the senior vice president now owns 19,978 shares of the company’s stock, valued at approximately $558,584.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

NiSource Stock Down 0.9 %

Shares of NYSE:NI opened at $28.28 on Friday. 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 business has a fifty day moving average of $28.13 and a two-hundred day moving average of $26.94. The stock has a market cap of $12.68 billion, a P/E ratio of 18.48, a PEG ratio of 2.79 and a beta of 0.51. NiSource Inc. has a 52-week low of $22.86 and a 52-week high of $29.44.

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

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Wednesday, July 31st will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Tuesday, July 30th. NiSource’s dividend payout ratio (DPR) is presently 69.28%.

Analyst Ratings Changes

NI has been the subject of several research reports. StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. BMO Capital Markets reiterated an “outperform” rating and set a $31.00 price target (up from $30.00) on shares of NiSource in a research report on Thursday, May 9th. Barclays upped their target price on NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Finally, Evercore ISI upped their target price on NiSource from $30.00 to $32.00 and gave the company an “outperform” rating 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Read Our Latest Analysis on NiSource

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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