Traders Sell Shares of NiSource Inc. (NI) on Strength (NI)
Traders sold shares of NiSource Inc. (NYSE:NI) on strength during trading hours 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 stocks 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
A number of research analysts have commented on the stock. Argus restated a “hold” rating on shares of NiSource in a research note on Monday, July 11th. Evercore ISI cut shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 price target for the company. in a research note on Wednesday, July 6th. KeyCorp restated an “outperform” rating and set a $27.00 price target (up previously from $25.50) on shares of NiSource in a research note on Tuesday, July 5th. Finally, JPMorgan Chase & Co. lowered shares of NiSource from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Tuesday, March 29th. They noted that the move was a valuation call. One equities research 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. The company currently has a consensus rating of “Hold” and an average price target of $21.69.
The company has a market capitalization of $8.34 billion and a price-to-earnings ratio of 41.96. The firm’s 50 day moving average price is $25.53 and its 200 day moving average price is $23.10.
NiSource (NYSE:NI) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.60 EPS for the quarter, beating the Zacks’ 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. During the same quarter last year, the company posted $0.85 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities research analysts expect that NiSource Inc. will post $1.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, July 29th will be paid a $0.165 dividend. 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 2.55%.
A number of hedge funds and institutional investors recently made changes to their positions in NI. Cornerstone Capital Management Holdings LLC. raised its position in shares of NiSource by 40.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 174,796 shares of the company’s stock worth $3,410,000 after buying an additional 50,674 shares during the period. Monarch Partners Asset Management LLC acquired a new position in shares of NiSource during the fourth quarter worth about $11,771,000. Dai Ichi Life Insurance CO. LTD. raised its position in shares of NiSource by 249.6% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 237,135 shares of the company’s stock worth $4,627,000 after buying an additional 169,296 shares during the last quarter. Swiss National Bank raised its position in shares of NiSource by 0.5% in the fourth quarter. Swiss National Bank now owns 417,689 shares of the company’s stock worth $8,149,000 after buying an additional 2,100 shares during the last quarter. Finally, Wells Fargo & Company MN raised 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 last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.