Joseph W. Mulpas Sells 12,000 Shares of NiSource Inc. (NYSE:NI) Stock

NiSource Inc. (NYSE:NI) VP Joseph W. Mulpas sold 12,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $29.78, for a total transaction of $357,360.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

NYSE:NI traded down $0.01 on Tuesday, hitting $28.10. 11,314,624 shares of the stock were exchanged, compared to its average volume of 2,834,725. The firm has a market capitalization of $11.09 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 4.24 and a beta of 0.23. NiSource Inc. has a 52 week low of $24.19 and a 52 week high of $30.34. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average of $29.30.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.06 billion. NiSource had a return on equity of 10.60% and a net margin of 3.15%. During the same period in the previous year, the business posted $0.07 EPS. Sell-side analysts predict that NiSource Inc. will post 1.3 EPS for the current year.

Several research analysts recently issued reports on the stock. Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and upped their price target for the stock from $26.00 to $29.00 in a research report on Monday, April 8th. Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a research report on Monday. Argus upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, July 24th. ValuEngine downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Zacks Investment Research cut NiSource from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $28.32.

A number of large investors have recently made changes to their positions in NI. Geode Capital Management LLC raised its holdings in NiSource by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 4,703,532 shares of the utilities provider’s stock worth $119,026,000 after purchasing an additional 363,894 shares during the last quarter. Two Sigma Advisers LP bought a new stake in NiSource during the 4th quarter worth about $535,000. Thrivent Financial for Lutherans increased its stake in shares of NiSource by 10.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,066 shares of the utilities provider’s stock valued at $407,000 after acquiring an additional 1,580 shares during the last quarter. FMR LLC increased its stake in shares of NiSource by 104.5% in the 4th quarter. FMR LLC now owns 3,036,242 shares of the utilities provider’s stock valued at $76,968,000 after acquiring an additional 1,551,419 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of NiSource by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,475,444 shares of the utilities provider’s stock valued at $37,404,000 after acquiring an additional 74,548 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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