Wealthfront Advisers LLC increased its stake in shares of NiSource Inc. (NYSE:NI) by 9.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,692 shares of the utilities provider’s stock after buying an additional 4,693 shares during the quarter. Wealthfront Advisers LLC’s holdings in NiSource were worth $1,577,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of NiSource by 2.6% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,487 shares of the utilities provider’s stock valued at $388,000 after buying an additional 341 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of NiSource by 2.9% during the second quarter. Carroll Financial Associates Inc. now owns 12,053 shares of the utilities provider’s stock valued at $347,000 after buying an additional 343 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of NiSource by 36.9% during the second quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock valued at $38,000 after buying an additional 351 shares during the last quarter. US Bancorp DE grew its holdings in shares of NiSource by 0.7% during the second quarter. US Bancorp DE now owns 54,191 shares of the utilities provider’s stock valued at $1,560,000 after buying an additional 365 shares during the last quarter. Finally, World Asset Management Inc grew its holdings in shares of NiSource by 1.6% during the second quarter. World Asset Management Inc now owns 23,895 shares of the utilities provider’s stock valued at $688,000 after buying an additional 373 shares during the last quarter. 92.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of NiSource from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Argus raised shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, July 24th. Credit Suisse Group downgraded shares of NiSource from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $28.48.
NYSE NI opened at $27.97 on Thursday. The company has a market capitalization of $10.66 billion, a PE ratio of 21.52, a P/E/G ratio of 4.08 and a beta of 0.23. The company has a fifty day moving average of $29.41 and a 200 day moving average of $28.80. NiSource Inc. has a 1 year low of $24.36 and a 1 year high of $30.67. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.41 and a quick ratio of 0.33.
NiSource (NYSE:NI) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a net margin of 3.15% and a return on equity of 10.60%. During the same period in the previous year, the firm posted $0.07 earnings per share. Research analysts expect that NiSource Inc. will post 1.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a $0.20 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. NiSource’s dividend payout ratio (DPR) is currently 61.54%.
In other news, CFO Donald Eugene Brown sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $28.04, for a total transaction of $280,400.00. Following the completion of the sale, the chief financial officer now owns 77,603 shares of the company’s stock, valued at $2,175,988.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Violet Sistovaris sold 40,405 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $29.16, for a total transaction of $1,178,209.80. Following the sale, the executive vice president now directly owns 105,927 shares of the company’s stock, valued at approximately $3,088,831.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,405 shares of company stock valued at $2,768,990. Insiders own 0.35% of the company’s stock.
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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