NiSource Inc. (NYSE:NI) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its position in NiSource Inc. (NYSE:NI) by 42.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 137,448 shares of the utilities provider’s stock after selling 99,462 shares during the period. Toronto Dominion Bank’s holdings in NiSource were worth $3,802,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NI. Raymond James & Associates boosted its stake in shares of NiSource by 2.0% in the fourth quarter. Raymond James & Associates now owns 387,917 shares of the utilities provider’s stock worth $10,299,000 after buying an additional 7,704 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of NiSource by 6.5% in the fourth quarter. Pacer Advisors Inc. now owns 27,318 shares of the utilities provider’s stock worth $725,000 after buying an additional 1,656 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of NiSource in the fourth quarter worth about $36,000. Blue Trust Inc. boosted its stake in shares of NiSource by 16.7% in the fourth quarter. Blue Trust Inc. now owns 3,228 shares of the utilities provider’s stock worth $80,000 after buying an additional 463 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of NiSource in the fourth quarter worth about $298,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 19,978 shares of the company’s stock, valued at $558,584.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

NiSource Price Performance

Shares of NiSource stock opened at $31.33 on Friday. The business has a 50 day simple moving average of $29.00 and a two-hundred day simple moving average of $27.63. NiSource Inc. has a 12 month low of $22.86 and a 12 month high of $31.55. The stock has a market capitalization of $14.05 billion, a P/E ratio of 20.48, a PEG ratio of 3.03 and a beta of 0.50. 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:NI) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. As a group, analysts predict that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be issued a $0.265 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.38%. NiSource’s dividend payout ratio is presently 69.28%.

Wall Street Analysts Forecast Growth

NI has been the topic of a number of recent analyst reports. Evercore ISI increased 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. Barclays increased their price target on NiSource from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets increased their price target on NiSource from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Mizuho initiated coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

NiSource 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.