My Legacy Advisors LLC Decreases Stake in NiSource Inc. (NYSE:NI)

My Legacy Advisors LLC lowered its position in shares of NiSource Inc. (NYSE:NI) by 16.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 20,320 shares of the utilities provider’s stock after selling 3,986 shares during the quarter. My Legacy Advisors LLC’s holdings in NiSource were worth $704,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NI. Zimmer Partners LP grew its holdings in shares of NiSource by 146.2% during the 1st quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock worth $246,388,000 after purchasing an additional 5,290,322 shares during the period. Bank of Montreal Can raised its position in shares of NiSource by 68.1% in the 2nd quarter. Bank of Montreal Can now owns 3,342,831 shares of the utilities provider’s stock valued at $96,407,000 after purchasing an additional 1,353,977 shares in the last quarter. Vaughan David Investments LLC IL acquired a new position in shares of NiSource in the 1st quarter valued at approximately $34,419,000. Vanguard Group Inc. raised its position in shares of NiSource by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 54,946,594 shares of the utilities provider’s stock valued at $1,519,823,000 after purchasing an additional 991,336 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of NiSource by 118.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,616,189 shares of the utilities provider’s stock valued at $46,449,000 after acquiring an additional 876,033 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NI shares. Wells Fargo & Company upped their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on NiSource in a research note on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. Mizuho assumed coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective for the company. Evercore ISI upped their price objective on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Barclays upped their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.00.

NiSource Trading Down 0.4 %

Shares of NYSE:NI traded down $0.14 during midday trading on Tuesday, reaching $34.79. The company had a trading volume of 519,665 shares, compared to its average volume of 4,046,241. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.78. NiSource Inc. has a 1-year low of $24.58 and a 1-year high of $35.19. The firm has a market cap of $15.60 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. The company has a fifty day simple moving average of $33.63 and a two-hundred day simple moving average of $30.60.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $0.11 EPS. Research analysts predict that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The firm 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 dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.05%. NiSource’s payout ratio is presently 69.28%.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.