Janus Henderson Group PLC Cuts Stock Position in NiSource Inc. (NYSE:NI)

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Janus Henderson Group PLC reduced its position in shares of NiSource Inc. (NYSE:NI) by 10.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,064,033 shares of the utilities provider’s stock after selling 364,581 shares during the quarter. Janus Henderson Group PLC owned about 0.82% of NiSource worth $88,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its holdings in shares of NiSource by 36.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock valued at $38,000 after buying an additional 351 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new stake in shares of NiSource in the 1st quarter valued at approximately $52,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of NiSource in the 2nd quarter valued at approximately $64,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of NiSource by 42.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,354 shares of the utilities provider’s stock valued at $96,000 after buying an additional 998 shares during the last quarter. Finally, Ibex Wealth Advisors acquired a new stake in shares of NiSource in the 2nd quarter valued at approximately $133,000. 94.39% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Donald Eugene Brown sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $28.04, for a total value of $280,400.00. Following the sale, the chief financial officer now directly owns 77,603 shares of the company’s stock, valued at $2,175,988.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Violet Sistovaris sold 40,405 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $29.16, for a total value of $1,178,209.80. Following the completion of the sale, the executive vice president now directly owns 105,927 shares in the company, valued at $3,088,831.32. The disclosure for this sale can be found here. Insiders sold 94,405 shares of company stock worth $2,768,990 over the last ninety days. 0.35% of the stock is currently owned by insiders.

Several research firms have recently commented on NI. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, July 24th. Wolfe Research downgraded NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. TheStreet raised NiSource from a “c+” rating to a “b-” rating in a report on Monday, May 13th. Credit Suisse Group downgraded NiSource from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut NiSource from a “hold” rating to a “sell” rating and set a $30.00 price target on the stock. in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. NiSource has an average rating of “Hold” and a consensus price target of $28.32.

NI stock traded down $0.34 during trading hours on Friday, hitting $29.33. 3,238,645 shares of the stock were exchanged, compared to its average volume of 2,900,364. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $11.08 billion, a P/E ratio of 22.56, a P/E/G ratio of 4.24 and a beta of 0.23. The company has a 50-day simple moving average of $29.29 and a two-hundred day simple moving average of $28.44. NiSource Inc. has a 12 month low of $24.19 and a 12 month high of $30.34.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.06 billion. NiSource had a return on equity of 10.60% and a net margin of 3.15%. During the same quarter last year, the business earned $0.07 EPS. On average, equities research analysts predict that NiSource Inc. will post 1.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 61.54%.

NiSource Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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