Manchester Capital Management LLC Sells 2,518 Shares of NiSource Inc. (NYSE:NI)

Manchester Capital Management LLC reduced its stake in NiSource Inc. (NYSE:NI) by 64.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,381 shares of the utilities provider’s stock after selling 2,518 shares during the quarter. Manchester Capital Management LLC’s holdings in NiSource were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NI. Norinchukin Bank The lifted its stake in NiSource by 1.4% during the second quarter. Norinchukin Bank The now owns 31,703 shares of the utilities provider’s stock worth $721,000 after purchasing an additional 443 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in NiSource by 1.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 25,589 shares of the utilities provider’s stock worth $582,000 after purchasing an additional 454 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of NiSource by 25.1% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 2,508 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 503 shares during the last quarter. MAI Capital Management lifted its stake in shares of NiSource by 3.2% in the 3rd quarter. MAI Capital Management now owns 16,392 shares of the utilities provider’s stock valued at $361,000 after acquiring an additional 512 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of NiSource by 1.7% in the 2nd quarter. CIBC Asset Management Inc now owns 31,888 shares of the utilities provider’s stock valued at $725,000 after acquiring an additional 533 shares during the last quarter. Institutional investors and hedge funds own 88.34% of the company’s stock.

Shares of NiSource stock opened at $23.18 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The business has a 50-day moving average price of $22.62 and a two-hundred day moving average price of $23.57. NiSource Inc. has a 1-year low of $19.56 and a 1-year high of $30.46. The company has a market cap of $8.88 billion, a P/E ratio of -72.44, a PEG ratio of 3.35 and a beta of 0.27.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. NiSource had a positive return on equity of 10.32% and a negative net margin of 1.26%. The firm had revenue of $962.70 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.05 EPS. Equities research analysts forecast that NiSource Inc. will post 1.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.21 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.62%. NiSource’s dividend payout ratio is presently 63.64%.

A number of research analysts have recently commented on the company. Credit Suisse Group dropped their price target on NiSource from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Zacks Investment Research upgraded NiSource from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a report on Wednesday, September 23rd. BMO Capital Markets decreased their price objective on NiSource from $27.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, September 28th. Bank of America upgraded NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Monday, October 19th. Finally, Jefferies Financial Group upgraded NiSource from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, September 23rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $25.80.

In other news, SVP Charles Edward Shafer II sold 1,650 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $22.50, for a total value of $37,125.00. Following the completion of the sale, the senior vice president now directly owns 14,985 shares in the company, valued at approximately $337,162.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

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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