Wealthfront Advisers LLC trimmed its position in shares of NiSource Inc. (NYSE:NI – Get Rating) by 29.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,141 shares of the utilities provider's stock after selling 28,235 shares during the quarter. Wealthfront Advisers LLC's holdings in NiSource were worth $1,950,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of NI. CWM LLC boosted its stake in shares of NiSource by 4.6% during the first quarter. CWM LLC now owns 7,306 shares of the utilities provider's stock valued at $232,000 after purchasing an additional 323 shares during the period. US Bancorp DE boosted its stake in shares of NiSource by 0.7% during the first quarter. US Bancorp DE now owns 52,964 shares of the utilities provider's stock valued at $1,684,000 after purchasing an additional 343 shares during the period. Keene & Associates Inc. boosted its stake in shares of NiSource by 4.5% during the first quarter. Keene & Associates Inc. now owns 8,752 shares of the utilities provider's stock valued at $278,000 after purchasing an additional 375 shares during the period. Xponance Inc. boosted its stake in shares of NiSource by 1.6% during the first quarter. Xponance Inc. now owns 25,491 shares of the utilities provider's stock valued at $811,000 after purchasing an additional 397 shares during the period. Finally, Banque Pictet & Cie SA boosted its stake in shares of NiSource by 0.5% during the first quarter. Banque Pictet & Cie SA now owns 83,952 shares of the utilities provider's stock valued at $2,670,000 after purchasing an additional 403 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.
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Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Edward Jones raised shares of NiSource from a "hold" rating to a "buy" rating in a research note on Wednesday, July 27th. Evercore ISI boosted their target price on shares of NiSource to $33.00 in a research note on Tuesday, August 9th. BMO Capital Markets lifted their price objective on NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, August 4th. Finally, Barclays decreased their price objective on NiSource from $35.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, NiSource presently has a consensus rating of "Moderate Buy" and an average target price of $32.29.
NiSource Stock Performance
Shares of NiSource stock opened at $25.19 on Monday. The company has a market capitalization of $10.23 billion, a PE ratio of 16.36, a P/E/G ratio of 2.50 and a beta of 0.38. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.47 and a current ratio of 0.63. The company has a 50-day simple moving average of $29.69 and a two-hundred day simple moving average of $29.94. NiSource Inc. has a one year low of $24.02 and a one year high of $32.58.
NiSource (NYSE:NI – Get Rating) last announced its earnings results on Wednesday, August 3rd. The utilities provider reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. NiSource had a net margin of 13.07% and a return on equity of 10.57%. During the same period in the previous year, the company posted $0.13 earnings per share. Research analysts expect that NiSource Inc. will post 1.44 EPS for the current fiscal year.
NiSource Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a $0.235 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.94 dividend on an annualized basis and a yield of 3.73%. NiSource's dividend payout ratio is presently 61.04%.
About NiSource
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NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.
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