CANADA LIFE ASSURANCE Co Trims Position in NiSource Inc. (NYSE:NI)

CANADA LIFE ASSURANCE Co reduced its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 12.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 455,912 shares of the utilities provider's stock after selling 64,162 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.10% of NiSource worth $16,749,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of NI. Canada Post Corp Registered Pension Plan bought a new position in shares of NiSource during the 4th quarter worth approximately $27,000. Brooklyn Investment Group lifted its holdings in NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock worth $32,000 after acquiring an additional 527 shares during the period. Spire Wealth Management purchased a new position in NiSource in the fourth quarter worth $39,000. Catalyst Capital Advisors LLC bought a new position in NiSource in the 4th quarter valued at $40,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of NiSource during the 4th quarter valued at $66,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Down 0.6 %

Shares of NI traded down $0.22 on Friday, hitting $39.46. 3,746,620 shares of the stock traded hands, compared to its average volume of 4,146,128. NiSource Inc. has a one year low of $27.46 and a one year high of $41.45. The company has a market capitalization of $18.57 billion, a PE ratio of 24.36, a P/E/G ratio of 2.56 and a beta of 0.48. The business has a 50 day simple moving average of $39.25 and a 200 day simple moving average of $37.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data 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 net margin of 13.94% and a return on equity of 7.87%. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities analysts forecast that NiSource Inc. will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be given 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 Wednesday, April 30th. NiSource's dividend payout ratio (DPR) is presently 69.14%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price target on shares of NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Wednesday, March 26th. Barclays increased their target price on shares of NiSource from $38.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group increased their price objective on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, Wells Fargo & Company boosted their price target on shares of NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, NiSource presently has an average rating of "Buy" and a consensus target price of $40.33.

Insider Buying and Selling at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the sale, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. The trade was a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

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.