NiSource, Inc $NI Shares Sold by Cramer Rosenthal Mcglynn LLC

Key Points

• Cramer Rosenthal Mcglynn LLC has reduced its stake in NiSource, Inc by 4.8%, now holding 836,246 shares, which constitutes approximately 2.4% of its investment portfolio.
• NiSource announced a quarterly dividend of $0.28 per share, set to be paid on November 20th, reflecting an annualized dividend yield of 2.6%.
• Analysts have a consensus rating of "Moderate Buy" on NiSource, with a consensus price target of $42.56, indicating confidence in the stock's future performance.

Cramer Rosenthal Mcglynn LLC lessened its position in shares of NiSource, Inc (NYSE:NI - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 836,246 shares of the utilities provider's stock after selling 42,283 shares during the period. NiSource makes up about 2.4% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 6th largest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.18% of NiSource worth $33,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in NiSource by 64.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 299 shares during the last quarter. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 266 shares during the last quarter. Quent Capital LLC lifted its stake in NiSource by 44.7% in the 1st quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 310 shares during the last quarter. Optiver Holding B.V. lifted its stake in NiSource by 105.0% in the 4th quarter. Optiver Holding B.V. now owns 1,281 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 656 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in 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 purchasing an additional 499 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

NiSource Trading Down 0.6%

NYSE NI traded down $0.27 during trading hours on Thursday, hitting $42.18. 2,184,910 shares of the company's stock were exchanged, compared to its average volume of 3,860,981. The stock has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $39.94. NiSource, Inc has a 1-year low of $32.53 and a 1-year high of $43.51. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.87 and a beta of 0.53. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32.

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

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders 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 2.7%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio (DPR) is presently 59.57%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NI. Guggenheim increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Barclays reaffirmed an "overweight" rating and set a $44.00 price target (up previously from $42.00) on shares of NiSource in a research note on Monday, August 4th. Zacks Research raised shares of NiSource to a "hold" rating in a research note on Monday, August 11th. Wells Fargo & Company raised their price target on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.56.

Insider Buying and Selling

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the completion of the sale, the executive vice president directly owned 28,882 shares in the company, valued at approximately $1,138,528.44. This trade represents a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% 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. 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.