Carroll Financial Associates Inc. Trims Stock Position in NiSource Inc. (NYSE:NI)

Carroll Financial Associates Inc. cut its stake in shares of NiSource Inc. (NYSE:NI) by 37.5% in the 3rd quarter, Holdings Channel reports. The fund owned 7,535 shares of the utilities provider’s stock after selling 4,518 shares during the quarter. Carroll Financial Associates Inc.’s holdings in NiSource were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of NiSource by 2.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,487 shares of the utilities provider’s stock worth $388,000 after buying an additional 341 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in shares of NiSource by 36.9% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock worth $38,000 after buying an additional 351 shares in the last quarter. US Bancorp DE raised its stake in shares of NiSource by 0.7% during the 2nd quarter. US Bancorp DE now owns 54,191 shares of the utilities provider’s stock worth $1,560,000 after buying an additional 365 shares in the last quarter. World Asset Management Inc raised its stake in shares of NiSource by 1.6% during the 2nd quarter. World Asset Management Inc now owns 23,895 shares of the utilities provider’s stock worth $688,000 after buying an additional 373 shares in the last quarter. Finally, 6 Meridian raised its stake in shares of NiSource by 2.1% during the 2nd quarter. 6 Meridian now owns 18,265 shares of the utilities provider’s stock worth $526,000 after buying an additional 382 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on NI. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Wednesday, July 24th. ValuEngine downgraded NiSource from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Credit Suisse Group downgraded NiSource from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wolfe Research downgraded NiSource from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $28.48.

NYSE NI opened at $29.14 on Friday. NiSource Inc. has a 1-year low of $24.19 and a 1-year high of $30.67. The company has a market capitalization of $10.76 billion, a P/E ratio of 22.42, a PEG ratio of 4.12 and a beta of 0.23. The business has a 50 day moving average price of $29.47 and a 200 day moving average price of $28.81. 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 released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. NiSource had a return on equity of 10.60% and a net margin of 3.15%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.07 EPS. On average, research analysts expect that NiSource Inc. will post 1.3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, October 30th. NiSource’s dividend payout ratio (DPR) is presently 61.54%.

In other NiSource news, EVP Violet Sistovaris sold 40,405 shares of the stock in a transaction on 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 owns 105,927 shares in the company, valued at approximately $3,088,831.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Carrie J. Hightman sold 22,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $29.96, for a total value of $659,120.00. Following the sale, the executive vice president now owns 329,207 shares in the company, valued at approximately $9,863,041.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,405 shares of company stock worth $2,768,990. 0.35% of the stock is owned by insiders.

About NiSource

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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