Maple Brown Abbott Ltd Sells 756,680 Shares of NiSource Inc. (NYSE:NI)

Maple Brown Abbott Ltd decreased its position in shares of NiSource Inc. (NYSE:NI) by 24.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,311,343 shares of the utilities provider’s stock after selling 756,680 shares during the quarter. NiSource accounts for about 10.4% of Maple Brown Abbott Ltd’s holdings, making the stock its 5th biggest position. Maple Brown Abbott Ltd owned about 0.50% of NiSource worth $84,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NI. Brooklyn Investment Group lifted its stake in shares of NiSource by 153.2% during the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 527 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of NiSource during the 3rd quarter worth $33,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of NiSource during the 2nd quarter worth $47,000. Legacy Investment Solutions LLC purchased a new position in shares of NiSource during the 3rd quarter worth $47,000. Finally, Friedenthal Financial purchased a new position in shares of NiSource during the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Up 0.4 %

Shares of NYSE NI opened at $37.75 on Monday. NiSource Inc. has a 12-month low of $24.80 and a 12-month high of $38.83. The company has a market cap of $17.62 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.73 and a beta of 0.54. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The stock has a fifty day moving average price of $36.99 and a 200 day moving average price of $34.60.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $986.00 million. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that NiSource Inc. will post 1.73 EPS for the current fiscal year.

NiSource Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd will be given a $0.28 dividend. This is a boost from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Monday, February 3rd. NiSource’s dividend payout ratio is presently 64.24%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NI shares. Wells Fargo & Company increased their price target on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays upped their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group assumed coverage on NiSource in a report on Monday, October 28th. They set a “buy” rating and a $39.00 price objective for the company. Finally, Mizuho upped their price objective on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, NiSource has a consensus rating of “Moderate Buy” and an average target price of $37.50.

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.