Oppenheimer & Co. Inc. Reduces Stock Position in NiSource Inc. (NYSE:NI)

Oppenheimer & Co. Inc. lowered its holdings in shares of NiSource Inc. (NYSE:NIFree Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,331 shares of the utilities provider’s stock after selling 400 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in NiSource were worth $2,212,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of NiSource in the 4th quarter worth $36,000. Lindbrook Capital LLC lifted its holdings in shares of NiSource by 46.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock worth $41,000 after buying an additional 491 shares during the period. Principal Securities Inc. purchased a new stake in shares of NiSource in the 4th quarter worth $50,000. Tobam lifted its holdings in shares of NiSource by 3,994.6% in the 4th quarter. Tobam now owns 2,293 shares of the utilities provider’s stock worth $61,000 after buying an additional 2,237 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of NiSource by 38.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,609 shares of the utilities provider’s stock worth $64,000 after buying an additional 720 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Activity

In other news, SVP Melanie B. Berman sold 3,742 shares of the stock in a transaction dated 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 directly owns 19,978 shares of the company’s stock, valued at $558,584.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

NiSource Trading Down 0.9 %

Shares of NYSE:NI opened at $28.28 on Friday. The business’s 50-day moving average is $28.13 and its 200 day moving average is $26.94. NiSource Inc. has a 1 year low of $22.86 and a 1 year high of $29.44. The firm has a market capitalization of $12.68 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.76 and a beta of 0.51. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56.

NiSource (NYSE:NIGet Free Report) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (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 company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts predict that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com upgraded NiSource from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. BMO Capital Markets reissued an “outperform” rating and issued a $31.00 price target (up from $30.00) on shares of NiSource in a research report on Thursday, May 9th. Barclays boosted their price target on NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Finally, Evercore ISI boosted their price target on NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Get Our Latest Stock Analysis on NiSource

About NiSource

(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.

Further Reading

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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