Sequoia Financial Advisors LLC Trims Stock Position in NiSource Inc. (NYSE:NI)

Sequoia Financial Advisors LLC decreased its position in NiSource Inc. (NYSE:NI - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,044 shares of the utilities provider's stock after selling 14,416 shares during the period. Sequoia Financial Advisors LLC's holdings in NiSource were worth $5,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NI. Brooklyn Investment Group raised its holdings in NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock valued at $32,000 after buying an additional 527 shares during the period. Spire Wealth Management purchased a new stake in shares of NiSource in the 4th quarter valued at approximately $39,000. Catalyst Capital Advisors LLC purchased a new stake in shares of NiSource in the 4th quarter valued at approximately $40,000. Legacy Investment Solutions LLC acquired a new position in shares of NiSource in the 3rd quarter worth approximately $47,000. Finally, iA Global Asset Management Inc. purchased a new position in shares of NiSource during the 3rd quarter worth approximately $78,000. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Stock Down 0.4 %

NiSource stock traded down $0.16 during mid-day trading on Monday, reaching $39.32. 4,846,462 shares of the company's stock were exchanged, compared to its average volume of 4,413,121. The company has a fifty day moving average of $38.35 and a 200-day moving average of $36.45. The company has a market cap of $18.48 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.56 and a beta of 0.50. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. NiSource Inc. has a twelve month low of $26.25 and a twelve month high of $41.44.

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NiSource (NYSE:NI - Get Free Report) last released its 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 period last year, the firm earned $0.53 EPS. Sell-side analysts expect that NiSource Inc. will post 1.91 EPS for the current year.

NiSource Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were paid a $0.28 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 2.85%. This is an increase from NiSource's previous quarterly dividend of $0.27. NiSource's payout ratio is currently 69.14%.

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 stock was 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price target on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $38.13.

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.