Bank of New York Mellon Corp Has $165.53 Million Holdings in NiSource, Inc $NI

Bank of New York Mellon Corp increased its holdings in NiSource, Inc (NYSE:NI) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,822,758 shares of the utilities provider’s stock after purchasing an additional 46,798 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of NiSource worth $165,525,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of NiSource by 1.0% in the second quarter. Vanguard Group Inc. now owns 61,422,062 shares of the utilities provider’s stock valued at $2,477,766,000 after buying an additional 578,061 shares during the period. State Street Corp boosted its holdings in NiSource by 4.1% in the second quarter. State Street Corp now owns 24,726,001 shares of the utilities provider’s stock valued at $997,447,000 after acquiring an additional 965,718 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in NiSource by 55,625.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock valued at $680,411,000 after purchasing an additional 16,836,630 shares during the period. Geode Capital Management LLC raised its holdings in NiSource by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 12,243,523 shares of the utilities provider’s stock worth $491,850,000 after purchasing an additional 124,868 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of NiSource by 1.4% in the 2nd quarter. Jennison Associates LLC now owns 11,734,790 shares of the utilities provider’s stock worth $473,381,000 after purchasing an additional 156,958 shares during the period. 91.64% of the stock is owned by institutional investors.

Insider Buying and Selling at NiSource

In related news, EVP Kimberly S. Cuccia sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $43.13, for a total transaction of $345,040.00. Following the transaction, the executive vice president directly owned 41,247 shares in the company, valued at approximately $1,778,983.11. The trade was a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NI has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $49.00 target price on shares of NiSource in a research note on Thursday. Evercore ISI lifted their price objective on NiSource from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of NiSource in a research note on Monday, December 29th. UBS Group raised their target price on NiSource from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.11.

NiSource Price Performance

Shares of NYSE NI opened at $44.30 on Friday. The stock has a market cap of $21.14 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.67 and a beta of 0.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.39 and a current ratio of 0.52. NiSource, Inc has a fifty-two week low of $35.64 and a fifty-two week high of $44.95. The firm’s 50-day simple moving average is $42.51 and its 200 day simple moving average is $42.39.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, October 29th. The utilities provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NiSource had a net margin of 14.15% and a return on equity of 8.09%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $983.25 million. During the same quarter in the prior year, the business earned $0.20 EPS. As a group, research analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Tuesday, February 3rd will be issued a $0.30 dividend. This is an increase from NiSource’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 3rd. NiSource’s dividend payout ratio is currently 59.26%.

NiSource Profile

NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.