Key Points
- CFO Shawn Anderson sold 6,500 NiSource shares for $292,500 at an average price of $45 under a pre-arranged Rule 10b5-1 plan; he retained 160,080 shares.
- NiSource reported quarterly EPS of $0.27, beating the $0.23 consensus, and revenue of $1.35 billion, slightly above estimates.
- The company announced a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 2.7% yield. Analysts’ consensus rating was “Moderate Buy,” with a $48.58 average price target.
NiSource, Inc (NYSE:NI - Get Free Report) CFO Shawn Anderson sold 6,500 shares of NiSource stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $45.00, for a total value of $292,500.00. Following the transaction, the chief financial officer directly owned 160,080 shares in the company, valued at approximately $7,203,600. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
NiSource Trading Down 0.5%
Shares of NiSource stock opened at $44.63 on Wednesday. The stock has a fifty day simple moving average of $41.37 and a 200 day simple moving average of $44.85. NiSource, Inc has a 12-month low of $38.42 and a 12-month high of $49.21. The company has a market capitalization of $21.41 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 3.33 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 - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. NiSource had a return on equity of 8.16% and a net margin of 13.56%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm posted $0.19 EPS. On average, sell-side analysts anticipate that NiSource, Inc will post 2.06 earnings per share for the current fiscal year.
NiSource Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. NiSource's dividend payout ratio is presently 61.54%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on NI. Scotiabank started coverage on shares of NiSource in a report on Tuesday, September 29th. They issued a "sector perform" rating and a $43.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of NiSource from $52.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, October 20th. Citigroup restated a "buy" rating on shares of NiSource in a report on Wednesday, October 21st. BMO Capital Markets upped their price objective on shares of NiSource from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, October 19th. Finally, LADENBURG THALM/SH SH decreased their price objective on shares of NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research note on Monday, August 17th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.58.
Read Our Latest Stock Analysis on NiSource
Institutional Trading of NiSource
A number of hedge funds have recently bought and sold shares of the business. Compass Financial Management LLC bought a new position in NiSource in the 2nd quarter valued at $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of NiSource during the 2nd quarter valued at $33,000. Western Wealth Management LLC bought a new stake in shares of NiSource during the 1st quarter worth $34,000. Caldwell Trust Co raised its stake in shares of NiSource by 46.6% during the 3rd quarter. Caldwell Trust Co now owns 871 shares of the utilities provider's stock worth $34,000 after purchasing an additional 277 shares during the period. Finally, Fiduciary Financial Advisors bought a new stake in shares of NiSource during the 2nd quarter worth $35,000. 91.64% of the stock is currently owned by institutional investors.
About NiSource
(
Get Free Report)
NiSource Inc is a regulated energy holding company based in Merrillville, Indiana. Through its operating companies, the company provides natural gas distribution and electric utility services to residential, commercial and industrial customers.
NiSource's natural gas operations include Columbia Gas utilities serving customers in several states, including Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana and provides both electric power and natural gas services.
The company's operations include energy delivery infrastructure, utility system maintenance, customer services and investments intended to support reliability and the transition of its generation portfolio.
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