Sterling Capital Management LLC Sells 249,526 Shares of NiSource Inc. (NYSE:NI)

Sterling Capital Management LLC lowered its holdings in shares of NiSource Inc. (NYSE:NI - Free Report) by 44.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 316,930 shares of the utilities provider's stock after selling 249,526 shares during the period. Sterling Capital Management LLC owned about 0.07% of NiSource worth $11,650,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina boosted its stake in shares of NiSource by 4.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 205,393 shares of the utilities provider's stock valued at $7,550,000 after purchasing an additional 9,410 shares during the period. DRW Securities LLC boosted its position in NiSource by 38.1% during the 4th quarter. DRW Securities LLC now owns 325,480 shares of the utilities provider's stock valued at $11,965,000 after buying an additional 89,766 shares during the period. Raymond James Financial Inc. bought a new stake in NiSource in the 4th quarter worth $15,522,000. Bank of Nova Scotia increased its position in shares of NiSource by 7.4% in the fourth quarter. Bank of Nova Scotia now owns 61,656 shares of the utilities provider's stock valued at $2,266,000 after acquiring an additional 4,266 shares during the period. Finally, Invesco Ltd. increased its position in shares of NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider's stock valued at $301,427,000 after acquiring an additional 2,714,262 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

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Insider Transactions at NiSource

In other news, CAO Gunnar Gode sold 5,500 shares of the company'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 value of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NI shares. Mizuho raised 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. UBS Group lifted their price objective on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company upped their target price on NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $39.33.

NiSource Stock Down 1.1 %

NiSource stock traded down $0.44 on Wednesday, hitting $39.03. 963,316 shares of the stock traded hands, compared to its average volume of 4,119,994. The business's fifty day simple moving average is $39.23 and its 200 day simple moving average is $37.30. The firm has a market cap of $18.37 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.56 and a beta of 0.48. 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 1 year low of $26.26 and a 1 year high of $41.45.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts forecast that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Wednesday, April 30th. NiSource's dividend payout ratio (DPR) is presently 69.14%.

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.