First Citizens Bank & Trust Co. decreased its stake in NiSource Inc. (NYSE:NI) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 264,089 shares of the company’s stock after selling 24,723 shares during the period. First Citizens Bank & Trust Co.’s holdings in NiSource were worth $7,004,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. ING Groep NV acquired a new position in NiSource during the second quarter worth approximately $1,945,000. Capital Fund Management S.A. acquired a new position in NiSource during the second quarter worth approximately $252,000. First Midwest Bank Trust Division boosted its position in NiSource by 19.5% in the second quarter. First Midwest Bank Trust Division now owns 45,479 shares of the company’s stock worth $1,206,000 after buying an additional 7,415 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in NiSource during the second quarter worth approximately $14,518,000. Finally, UMB Bank N A MO acquired a new position in NiSource during the second quarter worth approximately $206,000. 82.28% of the stock is currently owned by institutional investors.
NiSource Inc. (NYSE:NI) traded down 0.88% during mid-day trading on Friday, reaching $22.64. The company’s stock had a trading volume of 2,015,351 shares. The company’s 50-day moving average price is $24.21 and its 200 day moving average price is $24.39. NiSource Inc. has a 52 week low of $18.60 and a 52 week high of $26.94. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 27.54 and a beta of 0.25.
NiSource (NYSE:NI) last released its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same period last year, the business posted $0.18 EPS. On average, equities analysts forecast that NiSource Inc. will post $1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.89%. NiSource’s dividend payout ratio is currently 80.49%.
A number of research firms have recently commented on NI. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, September 23rd. KeyCorp set a $27.00 target price on NiSource and gave the company a “buy” rating in a research note on Monday, September 12th. Credit Suisse Group AG cut NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 target price on the stock. in a research note on Friday, August 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $26.00 target price on shares of NiSource in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. boosted their price target on NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. NiSource currently has an average rating of “Hold” and an average target price of $25.09.
In other news, VP Teresa M. Smith sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total transaction of $28,500.00. Following the completion of the sale, the vice president now owns 37,883 shares in the company, valued at approximately $899,721.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company’s stock.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.