NiSource, Inc $NI Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in shares of NiSource, Inc (NYSE:NI) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,507,633 shares of the utilities provider’s stock after selling 493,749 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NiSource were worth $175,798,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NI. BlackRock Inc. acquired a new stake in shares of NiSource during the second quarter valued at about $2,613,234,000. Deutsche Bank AG purchased a new stake in shares of NiSource in the 2nd quarter valued at approximately $574,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NiSource by 4.4% in 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 acquiring an additional 183,321 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of NiSource in the 2nd quarter worth approximately $179,838,000. Finally, Bank of America Corp DE acquired a new position in shares of NiSource in the 2nd quarter worth approximately $172,516,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Trading Down 0.1%

Shares of NI stock opened at $44.10 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.38 and a current ratio of 0.50. The stock has a market capitalization of $21.16 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53. The company has a 50 day moving average price of $41.59 and a 200 day moving average price of $44.87. NiSource, Inc has a fifty-two week low of $38.42 and a fifty-two week high of $49.21.

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

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders 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 payout ratio is 61.54%.

Insiders Place Their Bets

In other news, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the sale, the executive vice president directly owned 78,527 shares in the company, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Anderson sold 6,500 shares of NiSource stock in a transaction 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 completion of the transaction, the chief financial officer owned 160,080 shares of the company’s stock, valued at approximately $7,203,600. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NI shares. Scotiabank assumed coverage on shares of NiSource in a research report on Tuesday, September 29th. They set a “sector perform” rating and a $43.00 price objective for the company. BMO Capital Markets boosted their target price on NiSource from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. cut their target price on NiSource from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Barclays decreased their price target on NiSource from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Finally, Citigroup restated a “buy” rating on shares of NiSource in a research report on Wednesday, October 21st. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.

NiSource traces its roots to Northern Indiana Public Service Company, established in 1912.