TIAA CREF Investment Management LLC cut its stake in NiSource, Inc (NYSE:NI) by 32.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 918,665 shares of the utilities provider’s stock after selling 444,663 shares during the period. TIAA CREF Investment Management LLC’s holdings in NiSource were worth $21,855,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in NiSource by 7.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 75,340 shares of the utilities provider’s stock valued at $1,667,000 after buying an additional 5,455 shares during the last quarter. Tyers Asset Management LLC acquired a new position in NiSource during the fourth quarter worth $562,000. Renaissance Technologies LLC raised its position in NiSource by 1,215.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,951,400 shares of the utilities provider’s stock worth $43,204,000 after buying an additional 1,803,000 shares during the period. Pacad Investment Ltd. raised its position in NiSource by 2,202.7% in the fourth quarter. Pacad Investment Ltd. now owns 16,119 shares of the utilities provider’s stock worth $357,000 after buying an additional 15,419 shares during the period. Finally, Allianz Asset Management AG raised its position in NiSource by 0.8% in the fourth quarter. Allianz Asset Management AG now owns 387,920 shares of the utilities provider’s stock worth $8,589,000 after buying an additional 2,969 shares during the period. Institutional investors own 82.40% of the company’s stock.

Institutional Ownership by Quarter for NiSource (NYSE:NI)

Shares of NiSource, Inc (NYSE:NI) traded down 0.19% during mid-day trading on Tuesday, reaching $26.12. The company’s stock had a trading volume of 252,367 shares. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 23.88 and a beta of 0.34. The firm’s 50 day moving average price is $25.19 and its 200-day moving average price is $23.50. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $26.94.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.06. NiSource had a net margin of 7.65% and a return on equity of 9.18%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $0.62 EPS. On average, analysts predict that NiSource, Inc will post $1.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, July 27th. NiSource’s dividend payout ratio is presently 64.22%.

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NI has been the topic of a number of research reports. Zacks Investment Research raised shares of NiSource from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a research note on Friday, March 10th. Jefferies Group LLC reissued a “hold” rating and issued a $23.00 target price on shares of NiSource in a research note on Friday, March 31st. Ladenburg Thalmann Financial Services initiated coverage on shares of NiSource in a research note on Friday, May 19th. They issued a “buy” rating and a $27.00 target price on the stock. Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $26.00 target price (up from $25.00) on shares of NiSource in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.68.

In related news, CFO Donald Eugene Brown sold 6,906 shares of NiSource stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total transaction of $176,172.06. Following the sale, the chief financial officer now owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jimmie L. Stanley sold 37,325 shares of NiSource stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $24.11, for a total transaction of $899,905.75. Following the sale, the chief operating officer now directly owns 315,471 shares in the company, valued at approximately $7,606,005.81. The disclosure for this sale can be found here. In the last three months, insiders sold 89,981 shares of company stock worth $2,191,779. Insiders own 0.32% of the company’s stock.

NiSource Company Profile

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 Company’s 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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