First Citizens Bank & Trust Co. Reduces Stock Position in NiSource Inc. (NYSE:NI)

First Citizens Bank & Trust Co. lessened its holdings in shares of NiSource Inc. (NYSE:NI) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,090 shares of the utilities provider’s stock after selling 13,026 shares during the period. First Citizens Bank & Trust Co. owned about 0.05% of NiSource worth $8,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NI. Thomasville National Bank raised its position in shares of NiSource by 0.7% in the 2nd quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider’s stock worth $1,548,000 after purchasing an additional 372 shares during the last quarter. Sound Income Strategies LLC lifted its position in NiSource by 11.1% during the first quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 449 shares during the period. Aurora Investment Counsel boosted its holdings in NiSource by 0.7% in the second quarter. Aurora Investment Counsel now owns 62,589 shares of the utilities provider’s stock worth $1,803,000 after purchasing an additional 450 shares during the last quarter. Empirical Finance LLC grew its position in NiSource by 3.6% in the 1st quarter. Empirical Finance LLC now owns 14,291 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 490 shares during the period. Finally, Tidal Investments LLC raised its stake in NiSource by 5.4% during the 1st quarter. Tidal Investments LLC now owns 9,728 shares of the utilities provider’s stock valued at $269,000 after buying an additional 499 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

NiSource Price Performance

Shares of NYSE:NI opened at $35.14 on Friday. The firm’s 50 day simple moving average is $33.56 and its two-hundred day simple moving average is $30.50. 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 has a market capitalization of $15.75 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.84 and a beta of 0.51. NiSource Inc. has a 1-year low of $24.58 and a 1-year high of $35.17.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same quarter in the prior year, the firm posted $0.11 EPS. Research analysts expect that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.02%. NiSource’s dividend payout ratio is presently 69.28%.

Wall Street Analyst Weigh In

Several analysts recently commented on NI shares. Mizuho began coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective for the company. Bank of America started coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. Evercore ISI raised their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets upped their target price on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company lifted their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.50.

About NiSource

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.