Cwm LLC Has $28.24 Million Position in NiSource, Inc $NI

Key Points

• Cwm LLC reduced its stake in NiSource, Inc by 3.1% during the second quarter, holding approximately 700,032 shares worth about $28.24 million as of the latest filing.
• The company has been experiencing increasing interest from institutional investors, with over 91.64% of its stock now held by such investors, highlighting strong market confidence.
• NiSource has declared a quarterly dividend of $0.28, set to be paid on November 20th, representing an annual yield of 2.6% and a payout ratio of 59.57%.

Cwm LLC lessened its position in NiSource, Inc (NYSE:NI - Free Report) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 700,032 shares of the utilities provider's stock after selling 22,060 shares during the period. Cwm LLC owned about 0.15% of NiSource worth $28,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of NiSource in the 2nd quarter valued at about $32,000. Larson Financial Group LLC grew its position in shares of NiSource by 48.8% in the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 266 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of NiSource in the 2nd quarter valued at about $40,000. Brooklyn Investment Group grew its position in shares of NiSource by 57.3% in the 1st quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 499 shares during the period. Finally, Hemington Wealth Management grew its position in shares of NiSource by 39.4% in the 1st quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 438 shares during the period. Institutional investors own 91.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NI. Barclays reissued an "overweight" rating and issued a $44.00 price objective (up previously from $42.00) on shares of NiSource in a research report on Monday, August 4th. Zacks Research upgraded shares of NiSource to a "hold" rating in a report on Monday, August 11th. Evercore ISI started coverage on shares of NiSource in a report on Monday, October 6th. They issued an "in-line" rating and a $45.00 price objective on the stock. Jefferies Financial Group downgraded shares of NiSource from a "buy" rating to a "hold" rating and decreased their price objective for the company from $48.00 to $44.00 in a report on Friday, September 5th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of NiSource in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, NiSource has an average rating of "Moderate Buy" and a consensus price target of $44.44.

NiSource Trading Down 0.2%

Shares of NiSource stock opened at $42.86 on Monday. The company has a market capitalization of $20.18 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.90 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. NiSource, Inc has a 12-month low of $33.74 and a 12-month high of $44.51. The firm's 50-day moving average price is $42.03 and its two-hundred day moving average price is $40.44.

NiSource (NYSE:NI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, analysts forecast that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio (DPR) is 59.57%.

About NiSource

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.

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