Toronto Dominion Bank Sells 466,716 Shares of NiSource Inc. (NYSE:NI)

Posted by Defense World Staff on Sep 3rd, 2023

Toronto Dominion Bank lowered its position in shares of NiSource Inc. (NYSE:NI – Free Report) by 71.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 187,681 shares of the utilities provider’s stock after selling 466,716 shares during the period. Toronto Dominion Bank’s holdings in NiSource were worth $5,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC grew its position in shares of NiSource by 16.3% in the 1st quarter. Private Advisor Group LLC now owns 18,625 shares of the utilities provider’s stock valued at $593,000 after buying an additional 2,614 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of NiSource by 23.1% in the 1st quarter. MetLife Investment Management LLC now owns 106,827 shares of the utilities provider’s stock valued at $3,397,000 after buying an additional 20,064 shares during the last quarter. Cibc World Market Inc. grew its position in shares of NiSource by 66.2% in the 1st quarter. Cibc World Market Inc. now owns 146,548 shares of the utilities provider’s stock valued at $4,660,000 after buying an additional 58,398 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NiSource by 29.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,952,676 shares of the utilities provider’s stock valued at $62,093,000 after buying an additional 447,102 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of NiSource in the 1st quarter valued at about $472,000. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

NI has been the topic of a number of analyst reports. BMO Capital Markets reduced their price target on NiSource from $31.00 to $30.00 in a research report on Wednesday, June 21st. StockNews.com downgraded NiSource from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Bank of America dropped their price objective on NiSource from $32.00 to $31.00 in a research note on Thursday, June 22nd. Evercore ISI dropped their price objective on NiSource from $31.00 to $30.00 in a research note on Wednesday, June 21st. Finally, Guggenheim dropped their price objective on NiSource from $31.00 to $30.00 in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Get Our Latest Stock Report on NiSource

Insider Buying and Selling

In other news, CEO Lloyd M. Yates purchased 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $26.44 per share, with a total value of $1,057,600.00. Following the purchase, the chief executive officer now owns 131,242 shares in the company, valued at $3,470,038.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Donald Eugene Brown sold 14,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $26.64, for a total value of $372,960.00. Following the completion of the sale, the executive vice president now directly owns 187,278 shares of the company’s stock, valued at $4,989,085.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lloyd M. Yates acquired 40,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average cost of $26.44 per share, with a total value of $1,057,600.00. Following the completion of the purchase, the chief executive officer now owns 131,242 shares of the company’s stock, valued at $3,470,038.48. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

NiSource Stock Down 0.7 %

NI stock opened at $26.56 on Friday. The stock’s 50 day simple moving average is $27.19 and its 200 day simple moving average is $27.47. NiSource Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $30.83. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.34 and a current ratio of 0.45. The company has a market cap of $10.98 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.47.

NiSource (NYSE:NI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). NiSource had a return on equity of 10.90% and a net margin of 12.00%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company posted $0.12 earnings per share. On average, research analysts expect that NiSource Inc. will post 1.57 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 69.44%.

NiSource Company Profile

(Free Report)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.