Traders Sell Shares of NiSource Inc. (NI) on Strength (NI)
Investors sold shares of NiSource Inc. (NYSE:NI) on strength during trading on Thursday. $13.63 million flowed into the stock on the tick-up and $36.00 million flowed out of the stock on the tick-down, for a money net flow of $22.37 million out of the stock. Of all companies tracked, NiSource had the 0th highest net out-flow for the day. NiSource traded up $0.06 for the day and closed at $25.93
NI has been the subject of a number of research reports. Argus reiterated a “hold” rating on shares of NiSource in a research note on Monday, July 11th. Evercore ISI initiated coverage on shares of NiSource in a research note on Monday, April 25th. They set a “hold” rating and a $22.00 target price for the company. KeyCorp reiterated an “outperform” rating and set a $27.00 target price (up from $25.50) on shares of NiSource in a research note on Tuesday, July 5th. Finally, JPMorgan Chase & Co. downgraded shares of NiSource from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Tuesday, March 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. NiSource currently has an average rating of “Hold” and an average price target of $21.69.
The company has a 50 day moving average of $25.60 and a 200 day moving average of $23.15. The company has a market cap of $8.44 billion and a price-to-earnings ratio of 42.49.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, May 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company earned $1.45 billion during the quarter, compared to analyst estimates of $1.78 billion. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. On average, equities analysts forecast that NiSource Inc. will post $1.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, July 29th will be given a dividend of $0.165 per share. This is an increase from NiSource’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, July 27th. This represents a $0.66 dividend on an annualized basis and a yield of 2.51%.
A number of institutional investors have recently modified their holdings of NI. Vanguard Group Inc. increased its position in shares of NiSource by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 28,165,168 shares of the company’s stock worth $549,502,000 after buying an additional 1,580,685 shares during the period. Victory Capital Management Inc. increased its position in shares of NiSource by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 3,414,135 shares of the company’s stock worth $66,610,000 after buying an additional 25,185 shares during the period. Morgan Stanley increased its position in shares of NiSource by 111.2% in the fourth quarter. Morgan Stanley now owns 2,886,991 shares of the company’s stock worth $56,325,000 after buying an additional 1,520,089 shares during the period. Wells Fargo & Company MN increased its position in shares of NiSource by 5.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,212,738 shares of the company’s stock worth $23,661,000 after buying an additional 57,683 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of NiSource by 52.9% in the fourth quarter. New York State Common Retirement Fund now owns 1,113,034 shares of the company’s stock worth $21,715,000 after buying an additional 385,034 shares during the period.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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