Cambridge Investment Research Advisors Inc. Sells 2,948 Shares of NiSource, Inc (NYSE:NI)

Cambridge Investment Research Advisors Inc. decreased its stake in shares of NiSource, Inc (NYSE:NI) by 5.9% during the first quarter, HoldingsChannel.com reports. The firm owned 47,315 shares of the utilities provider’s stock after selling 2,948 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in NiSource were worth $1,897,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NI. Vanguard Group Inc. increased its stake in NiSource by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider’s stock worth $2,124,492,000 after acquiring an additional 2,459,452 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of NiSource by 10.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider’s stock worth $785,563,000 after purchasing an additional 1,965,334 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NiSource by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 11,448,075 shares of the utilities provider’s stock worth $419,765,000 after purchasing an additional 700,747 shares during the last quarter. Millennium Management LLC increased its position in shares of NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider’s stock worth $339,837,000 after purchasing an additional 6,001,486 shares during the last quarter. Finally, Invesco Ltd. raised its stake in NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider’s stock valued at $301,427,000 after purchasing an additional 2,714,262 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Insider Transactions at NiSource

In related news, Director Michael E. Jesanis sold 6,178 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction 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 sale, the executive vice president owned 28,882 shares in the company, valued at approximately $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 worth $631,939 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

NiSource Trading Down 1.6%

NYSE NI opened at $39.41 on Thursday. The firm has a market cap of $18.55 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.54. NiSource, Inc has a 1-year low of $28.42 and a 1-year high of $41.45. The stock has a 50-day moving average of $39.36 and a 200-day moving average of $38.64. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 1.17.

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

NiSource Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on NI. Barclays boosted their price target on shares of NiSource from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Mizuho upped their target price 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. JPMorgan Chase & Co. increased their target price on NiSource from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. BMO Capital Markets lifted their price target on NiSource from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company upped their price objective on NiSource from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $41.50.

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.