Jennison Associates LLC Lowers Stake in NiSource Inc. (NI)

Jennison Associates LLC reduced its stake in shares of NiSource Inc. (NYSE:NI) by 12.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,251,566 shares of the utilities provider’s stock after selling 454,075 shares during the quarter. Jennison Associates LLC’s holdings in NiSource were worth $83,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of NI. FMR LLC lifted its position in NiSource by 31.3% during the second quarter. FMR LLC now owns 855,250 shares of the utilities provider’s stock valued at $21,689,000 after purchasing an additional 203,941 shares during the period. Swiss National Bank lifted its position in NiSource by 1.1% during the third quarter. Swiss National Bank now owns 1,191,700 shares of the utilities provider’s stock valued at $30,496,000 after purchasing an additional 13,200 shares during the period. Janus Henderson Group PLC lifted its position in NiSource by 29.6% during the third quarter. Janus Henderson Group PLC now owns 401,087 shares of the utilities provider’s stock valued at $10,263,000 after purchasing an additional 91,675 shares during the period. Prudential Financial Inc. lifted its position in NiSource by 8.7% during the third quarter. Prudential Financial Inc. now owns 660,083 shares of the utilities provider’s stock valued at $16,892,000 after purchasing an additional 52,620 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in NiSource by 2.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,474,798 shares of the utilities provider’s stock valued at $37,741,000 after purchasing an additional 39,203 shares during the period. Institutional investors and hedge funds own 82.21% of the company’s stock.

A number of research analysts recently issued reports on NI shares. Citigroup boosted their target price on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, November 20th. KeyCorp restated a “buy” rating and set a $29.50 target price on shares of NiSource in a research report on Friday, October 20th. Edward Jones upgraded shares of NiSource from a “hold” rating to a “buy” rating in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Thursday, January 4th. Finally, Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.14.

NiSource Inc. (NYSE NI) opened at $24.50 on Friday. The firm has a market cap of $8,280.00, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.89 and a beta of 0.43. NiSource Inc. has a 1 year low of $21.65 and a 1 year high of $27.76. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $917.00 million during the quarter, compared to the consensus estimate of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same quarter in the prior year, the firm posted $0.06 earnings per share. sell-side analysts expect that NiSource Inc. will post 1.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from NiSource’s previous quarterly dividend of $0.18. NiSource’s dividend payout ratio is 84.34%.

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NiSource Company Profile

NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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