Insider Selling: NiSource (NYSE:NI) CFO Sells $296,270.00 in Stock

NiSource, Inc (NYSE:NI) CFO Shawn Anderson sold 6,500 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $45.58, for a total value of $296,270.00. Following the sale, the chief financial officer owned 153,580 shares in the company, valued at $7,000,176.40. The trade was a 4.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shawn Anderson also recently made the following trade(s):

• On Friday, October 30th, Shawn Anderson sold 6,500 shares of NiSource stock. The shares were sold at an average price of $45.00, for a total transaction of $292,500.00.

NiSource Stock Performance

Shares of NiSource stock opened at $45.53 on Thursday. The company has a 50 day moving average price of $41.86 and a 200 day moving average price of $44.89. The firm has a market capitalization of $21.84 billion, a P/E ratio of 23.35, a PEG ratio of 3.36 and a beta of 0.53. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 1.37. NiSource, Inc has a 52 week low of $38.42 and a 52 week high of $49.21.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. NiSource had a net margin of 13.56% and a return on equity of 8.16%. During the same quarter in the prior year, the business posted $0.19 EPS. Sell-side analysts expect that NiSource, Inc will post 2.06 EPS for the current year.

Hedge Funds Weigh In On NiSource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. raised its position in shares of NiSource by 1.1% during the 2nd quarter. Contravisory Investment Management Inc. now owns 24,118 shares of the utilities provider’s stock worth $1,147,000 after purchasing an additional 254 shares during the last quarter. Caldwell Trust Co boosted its stake in shares of NiSource by 46.6% in the third quarter. Caldwell Trust Co now owns 871 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 277 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of NiSource by 35.8% during the second quarter. Parkside Financial Bank & Trust now owns 1,339 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 353 shares in the last quarter. CX Institutional raised its stake in NiSource by 5.5% in the 2nd quarter. CX Institutional now owns 7,050 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 366 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in NiSource by 5.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,375 shares of the utilities provider’s stock valued at $344,000 after purchasing an additional 394 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NI. Scotiabank assumed coverage on NiSource in a research report on Tuesday, September 29th. They issued a “sector perform” rating and a $43.00 target price on the stock. HSBC initiated coverage on NiSource in a report on Thursday, October 22nd. They set a “buy” rating and a $49.50 target price for the company. Mizuho dropped their target price on NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 26th. Ladenburg Thalmann & Co. Inc. reduced their price target on shares of NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of NiSource in a report on Wednesday, October 21st. Twelve equities research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

NiSource Company Profile

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.