NiSource Inc. (NYSE:NI) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in NiSource Inc. (NYSE:NI) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,050 shares of the utilities provider’s stock after selling 4,757 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NiSource were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of NiSource in the 4th quarter valued at $36,000. Lindbrook Capital LLC grew its position in NiSource by 46.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 491 shares during the period. Principal Securities Inc. acquired a new stake in NiSource during the fourth quarter worth about $50,000. Quarry LP purchased a new position in shares of NiSource in the 4th quarter worth about $50,000. Finally, Tobam lifted its stake in shares of NiSource by 3,994.6% in the 4th quarter. Tobam now owns 2,293 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 2,237 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays raised their price target on shares of NiSource from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Evercore ISI increased their price objective on shares of NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $31.00 price target on shares of NiSource in a research note on Tuesday, June 18th. Finally, StockNews.com raised shares of NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.20.

Insider Buying and Selling

In other NiSource news, SVP Melanie B. Berman sold 3,742 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total transaction of $104,626.32. Following the completion of the sale, the senior vice president now owns 19,978 shares in the company, valued at $558,584.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

NiSource Trading Down 0.1 %

NI opened at $28.32 on Friday. The stock has a market capitalization of $12.70 billion, a PE ratio of 18.51, a P/E/G ratio of 2.76 and a beta of 0.51. 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 Inc. has a 12-month low of $22.86 and a 12-month high of $29.44. The firm’s fifty day moving average price is $28.31 and its 200 day moving average price is $27.09.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.07 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same quarter last year, the company posted $0.77 earnings per share. As a group, research analysts expect that NiSource Inc. will post 1.71 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Wednesday, July 31st will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, July 30th. NiSource’s dividend payout ratio is currently 69.28%.

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.