Public Sector Pension Investment Board Has $13.71 Million Position in NiSource Inc. (NYSE:NI)

Public Sector Pension Investment Board lessened its position in NiSource Inc. (NYSE:NI) by 41.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,906 shares of the utilities provider’s stock after selling 342,254 shares during the period. Public Sector Pension Investment Board owned about 0.11% of NiSource worth $13,711,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of NiSource by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,158 shares of the utilities provider’s stock valued at $57,910,000 after purchasing an additional 10,489 shares during the period. Janney Montgomery Scott LLC grew its position in shares of NiSource by 23.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 40,693 shares of the utilities provider’s stock valued at $1,080,000 after purchasing an additional 7,661 shares during the last quarter. Norges Bank bought a new position in shares of NiSource during the fourth quarter worth approximately $70,090,000. Coldstream Capital Management Inc. acquired a new stake in NiSource during the 4th quarter worth approximately $209,000. Finally, Commerce Bank lifted its holdings in NiSource by 13.8% during the 4th quarter. Commerce Bank now owns 10,016 shares of the utilities provider’s stock worth $266,000 after purchasing an additional 1,217 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NI has been the topic of several recent research reports. Mizuho initiated coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective on the stock. Barclays raised their price target on shares of NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted their price objective on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Bank of America initiated coverage on shares of NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. Finally, Evercore ISI increased their price target on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NiSource has an average rating of “Moderate Buy” and an average price target of $32.43.

NiSource Stock Performance

Shares of NYSE:NI opened at $34.27 on Tuesday. NiSource Inc. has a 1 year low of $22.86 and a 1 year high of $34.49. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 3.25 and a beta of 0.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The company’s 50 day simple moving average is $32.26 and its 200 day simple moving average is $29.56.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, research analysts predict that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.09%. NiSource’s dividend payout ratio is currently 69.28%.

NiSource Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.