Duff & Phelps Investment Management Co. Trims Stock Position in NiSource Inc. (NYSE:NI)

Duff & Phelps Investment Management Co. reduced its stake in shares of NiSource Inc. (NYSE:NI) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,849,521 shares of the utilities provider’s stock after selling 50,455 shares during the quarter. NiSource accounts for 1.7% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 14th largest position. Duff & Phelps Investment Management Co. owned approximately 0.82% of NiSource worth $141,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. New Age Alpha Advisors LLC lifted its holdings in NiSource by 808.2% during the fourth quarter. New Age Alpha Advisors LLC now owns 4,432 shares of the utilities provider’s stock valued at $163,000 after purchasing an additional 3,944 shares in the last quarter. Norges Bank acquired a new stake in shares of NiSource in the fourth quarter worth approximately $195,745,000. NEOS Investment Management LLC increased its position in shares of NiSource by 103.7% during the fourth quarter. NEOS Investment Management LLC now owns 33,461 shares of the utilities provider’s stock worth $1,230,000 after purchasing an additional 17,033 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in NiSource by 18.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 62,365 shares of the utilities provider’s stock valued at $2,293,000 after purchasing an additional 9,744 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in NiSource by 18.7% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 47,260 shares of the utilities provider’s stock valued at $1,737,000 after purchasing an additional 7,439 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NiSource

In other news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the sale, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. The trade was a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NI. UBS Group boosted their price target on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Mizuho upped their price target on NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, NiSource currently has an average rating of “Buy” and a consensus target price of $39.33.

NiSource Trading Down 0.6 %

NYSE:NI opened at $39.76 on Friday. NiSource Inc. has a 12-month low of $26.26 and a 12-month high of $41.45. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The firm has a market cap of $18.68 billion, a P/E ratio of 24.54, a PEG ratio of 2.56 and a beta of 0.50. The stock’s 50 day simple moving average is $38.89 and its 200-day simple moving average is $36.80.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same quarter last year, the business posted $0.53 EPS. Equities analysts anticipate that NiSource Inc. will post 1.91 EPS for the current year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.82%. NiSource’s dividend payout ratio (DPR) is presently 69.14%.

About NiSource

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.