NiSource (NYSE:NI) Stock: Insider Shawn Anderson Sells 6,500 Shares

NiSource, Inc (NYSE:NI) CFO Shawn Anderson sold 6,500 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $45.58, for a total transaction of $296,270.00. Following the transaction, the chief financial officer owned 153,580 shares in the company, valued at $7,000,176.40. The trade was a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Anderson also recently made the following trade(s):

• On Friday, October 30th, Shawn Anderson sold 6,500 shares of NiSource stock. The shares were sold at an average price of $45.00, for a total transaction of $292,500.00.

NiSource Price Performance

Shares of NYSE NI opened at $45.33 on Wednesday. The firm’s 50-day moving average price is $41.77 and its 200-day moving average price is $44.88. NiSource, Inc has a 1-year low of $38.42 and a 1-year high of $49.21. The firm has a market capitalization of $21.74 billion, a P/E ratio of 23.25, a P/E/G ratio of 3.34 and a beta of 0.53. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.37.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. NiSource had a net margin of 13.56% and a return on equity of 8.16%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. Equities research analysts anticipate that NiSource, Inc will post 2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NI has been the subject of a number of research reports. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research note on Sunday. BMO Capital Markets boosted their price objective on NiSource from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Weiss Ratings lowered NiSource from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd. Scotiabank initiated coverage on NiSource in a report on Tuesday, September 29th. They issued a “sector perform” rating and a $43.00 target price on the stock. Finally, Citigroup reiterated a “buy” rating on shares of NiSource in a report on Wednesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Institutional Investors Weigh In On NiSource

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in NiSource in the 2nd quarter valued at about $2,613,234,000. Deutsche Bank AG acquired a new position in NiSource during the 2nd quarter valued at about $574,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NiSource by 4.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,381,989 shares of the utilities provider’s stock worth $208,364,000 after purchasing an additional 183,321 shares in the last quarter. Legal & General Group Plc bought a new stake in NiSource during the 2nd quarter worth approximately $179,838,000. Finally, Bank of America Corp DE purchased a new stake in shares of NiSource in the second quarter worth approximately $172,516,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

About NiSource

NiSource Inc. is a regulated energy holding company that delivers natural gas and electricity through its local utility subsidiaries. Its businesses focus on operating and maintaining energy infrastructure and providing service to residential, commercial and industrial customers. The company’s natural gas utilities serve customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana.