Energy Income Partners LLC Lowers Holdings in NiSource Inc. (NYSE:NI)

Energy Income Partners LLC decreased its holdings in NiSource Inc. (NYSE:NI) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 880,642 shares of the utilities provider’s stock after selling 11,762 shares during the quarter. Energy Income Partners LLC owned 0.24% of NiSource worth $25,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of NiSource by 1.3% in the second quarter. Vanguard Group Inc. now owns 43,342,278 shares of the utilities provider’s stock valued at $1,248,258,000 after purchasing an additional 537,525 shares during the period. BlackRock Inc. lifted its stake in NiSource by 0.5% in the second quarter. BlackRock Inc. now owns 30,702,002 shares of the utilities provider’s stock worth $884,217,000 after acquiring an additional 151,008 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in NiSource by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 15,474,629 shares of the utilities provider’s stock worth $442,729,000 after acquiring an additional 325,794 shares during the last quarter. Jennison Associates LLC lifted its stake in NiSource by 73.1% in the first quarter. Jennison Associates LLC now owns 5,626,608 shares of the utilities provider’s stock worth $161,259,000 after acquiring an additional 2,375,299 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in NiSource by 2.2% in the second quarter. Commonwealth Bank of Australia now owns 5,436,575 shares of the utilities provider’s stock worth $156,558,000 after acquiring an additional 117,596 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on NI. Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Credit Suisse Group cut shares of NiSource from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Zacks Investment Research cut shares of NiSource from a “hold” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Wednesday, May 29th. Finally, Argus raised shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.48.

NI opened at $29.44 on Friday. The firm has a 50 day moving average price of $29.24 and a 200 day moving average price of $28.59. The company has a market cap of $10.99 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 4.20 and a beta of 0.23. NiSource Inc. has a 1 year low of $24.19 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.33 and a current ratio of 0.41.

NiSource (NYSE:NI) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.06 billion. NiSource had a return on equity of 10.60% and a net margin of 3.15%. During the same period in the prior year, the business posted $0.07 EPS. On average, sell-side analysts predict 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. Investors of record on Thursday, October 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is presently 61.54%.

In other NiSource news, VP Joseph W. Mulpas sold 12,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $29.78, for a total value of $357,360.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Donald Eugene Brown sold 10,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $28.04, for a total value of $280,400.00. Following the completion of the sale, the chief financial officer now directly owns 77,603 shares in the company, valued at $2,175,988.12. The disclosure for this sale can be found here. Insiders have sold 94,405 shares of company stock worth $2,768,990 over the last 90 days. 0.35% of the stock is currently owned by company insiders.

NiSource Company Profile

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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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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