Mirae Asset Global Investments Co. Ltd. Sells 848 Shares of NiSource, Inc (NYSE:NI)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of NiSource, Inc (NYSE:NI) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,527 shares of the utilities provider’s stock after selling 848 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NiSource were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Achmea Investment Management B.V. bought a new position in shares of NiSource during the 1st quarter valued at $558,000. Artemis Investment Management LLP raised its holdings in NiSource by 144.3% in the 1st quarter. Artemis Investment Management LLP now owns 1,451,104 shares of the utilities provider’s stock worth $58,175,000 after acquiring an additional 857,229 shares during the period. Illinois Municipal Retirement Fund raised its holdings in NiSource by 29.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 58,932 shares of the utilities provider’s stock worth $2,363,000 after acquiring an additional 13,286 shares during the period. Board of the Pension Protection Fund bought a new position in NiSource in the 1st quarter worth $986,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in NiSource by 21.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 162,052 shares of the utilities provider’s stock worth $6,497,000 after acquiring an additional 28,757 shares during the period. Institutional investors own 91.64% of the company’s stock.

Insider Activity at NiSource

In other news, Director Michael E. Jesanis sold 6,178 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total value of $233,590.18. Following the completion of the transaction, the director owned 18,541 shares in the company, valued at $701,035.21. This represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melanie B. Berman sold 6,227 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the completion of the transaction, the executive vice president owned 28,882 shares of the company’s stock, valued at $1,138,528.44. This trade represents a 17.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,405 shares of company stock valued at $631,939 in the last ninety days. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NI shares. BMO Capital Markets raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Wells Fargo & Company raised their price target on shares of NiSource from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Barclays raised their price target on shares of NiSource from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Mizuho raised their price target on shares of NiSource from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $41.50.

NiSource Trading Up 0.2%

Shares of NYSE NI opened at $39.47 on Friday. NiSource, Inc has a 1-year low of $28.42 and a 1-year high of $41.45. The company has a market cap of $18.58 billion, a PE ratio of 21.34, a P/E/G ratio of 2.67 and a beta of 0.54. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $39.36 and a two-hundred day moving average of $38.66.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.32 billion. NiSource had a net margin of 14.67% and a return on equity of 8.41%. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts expect that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Thursday, July 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource’s payout ratio is presently 60.54%.

NiSource Company Profile

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.