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

Duff & Phelps Investment Management Co. trimmed its position in shares of NiSource Inc. (NYSE:NI - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,849,521 shares of the utilities provider's stock after selling 50,455 shares during the quarter. NiSource accounts for approximately 1.7% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 14th biggest position. Duff & Phelps Investment Management Co. owned 0.82% of NiSource worth $141,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in NiSource by 17.8% in the third quarter. Citigroup Inc. now owns 421,036 shares of the utilities provider's stock valued at $14,589,000 after purchasing an additional 63,563 shares during the period. Cerity Partners LLC boosted its stake in shares of NiSource by 20.7% in the 3rd quarter. Cerity Partners LLC now owns 119,180 shares of the utilities provider's stock valued at $4,130,000 after buying an additional 20,444 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of NiSource during the third quarter worth $325,000. Daiwa Securities Group Inc. raised its stake in NiSource by 4.9% in the third quarter. Daiwa Securities Group Inc. now owns 88,441 shares of the utilities provider's stock valued at $3,064,000 after buying an additional 4,092 shares in the last quarter. Finally, FMR LLC lifted its holdings in NiSource by 0.9% during the 3rd quarter. FMR LLC now owns 11,396,489 shares of the utilities provider's stock worth $394,888,000 after buying an additional 99,882 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In related 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 value of $219,560.00. Following the sale, the chief accounting officer now directly owns 24,758 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company's stock.

NiSource Stock Performance

Shares of NI traded up $0.11 during mid-day trading on Tuesday, hitting $40.20. 1,075,842 shares of the company's stock were exchanged, compared to its average volume of 4,004,305. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. NiSource Inc. has a fifty-two week low of $26.26 and a fifty-two week high of $41.45. The business's 50 day moving average is $38.97 and its two-hundred day moving average is $36.94. The firm has a market capitalization of $18.89 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.56 and a beta of 0.50.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates 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 period last year, the firm earned $0.53 EPS. On average, equities analysts expect that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, April 30th. NiSource's dividend payout ratio (DPR) is presently 69.14%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NI shares. Mizuho boosted their target price on NiSource from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 26th. Wells Fargo & Company upped their target price on shares of NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, UBS Group boosted their price target on shares of NiSource from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $39.33.

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.