Envestnet Asset Management Inc. trimmed its stake in NiSource Inc. (NYSE:NI – Free Report) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 580,242 shares of the utilities provider’s stock after selling 84,179 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of NiSource worth $14,320,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. purchased a new position in shares of NiSource during the first quarter valued at approximately $33,000. Ancora Advisors LLC acquired a new position in NiSource during the fourth quarter valued at approximately $40,000. Global Retirement Partners LLC grew its stake in NiSource by 41.4% during the third quarter. Global Retirement Partners LLC now owns 1,698 shares of the utilities provider’s stock worth $41,000 after buying an additional 497 shares during the period. ST Germain D J Co. Inc. acquired a new stake in shares of NiSource in the second quarter worth $42,000. Finally, Money Concepts Capital Corp purchased a new position in shares of NiSource in the 4th quarter valued at $45,000. 94.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on NI. Barclays upped their price target on shares of NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th.
View Our Latest Research Report on NiSource
NiSource Price Performance
NI stock opened at $25.85 on Thursday. The company has a market capitalization of $11.57 billion, a PE ratio of 17.59, a P/E/G ratio of 2.12 and a beta of 0.49. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average is $26.07 and its two-hundred day moving average is $26.02. NiSource Inc. has a 52-week low of $22.86 and a 52-week high of $28.95.
NiSource (NYSE:NI – Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.59 billion. NiSource had a net margin of 12.98% and a return on equity of 10.10%. During the same period in the prior year, the company earned $0.50 earnings per share. Analysts predict that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.
NiSource Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Monday, February 5th were given a dividend of $0.265 per share. This is a boost from NiSource’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 2nd. This represents a $1.06 annualized dividend and a dividend yield of 4.10%. NiSource’s dividend payout ratio (DPR) is presently 72.11%.
NiSource Company Profile
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.
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