TD Asset Management Inc lowered its position in NiSource, Inc (NYSE:NI - Free Report) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,571,071 shares of the utilities provider's stock after selling 6,213 shares during the quarter. TD Asset Management Inc owned about 0.33% of NiSource worth $63,377,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in NiSource by 5.3% during the first quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider's stock worth $2,439,236,000 after purchasing an additional 3,050,420 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in NiSource by 12.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider's stock valued at $962,997,000 after buying an additional 2,650,827 shares in the last quarter. Jennison Associates LLC lifted its position in shares of NiSource by 8.0% during the first quarter. Jennison Associates LLC now owns 11,577,832 shares of the utilities provider's stock worth $464,155,000 after acquiring an additional 857,653 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NiSource by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,535,924 shares of the utilities provider's stock worth $221,935,000 after acquiring an additional 2,605,923 shares during the period. Finally, Northern Trust Corp grew its position in shares of NiSource by 4.7% in the first quarter. Northern Trust Corp now owns 4,638,973 shares of the utilities provider's stock valued at $185,976,000 after purchasing an additional 206,448 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have commented on NI. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Evercore ISI initiated coverage on shares of NiSource in a research note on Monday, October 6th. They set an "in-line" rating and a $45.00 price objective for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of NiSource in a report on Wednesday, October 8th. Jefferies Financial Group downgraded shares of NiSource from a "buy" rating to a "hold" rating and cut their price target for the company from $48.00 to $44.00 in a report on Friday, September 5th. Finally, Zacks Research raised shares of NiSource to a "hold" rating in a report on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.44.
Check Out Our Latest Research Report on NiSource
NiSource Price Performance
Shares of NYSE:NI opened at $43.56 on Thursday. The company's fifty day moving average price is $42.05 and its 200-day moving average price is $40.49. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.90 and a beta of 0.60. NiSource, Inc has a one year low of $34.23 and a one year high of $44.51. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48.
NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same period in the previous year, the firm posted $0.21 EPS. On average, equities research analysts anticipate that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.
NiSource Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be given a dividend of $0.28 per share. The ex-dividend date is Friday, October 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.6%. NiSource's dividend payout ratio is 59.57%.
NiSource Company Profile
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Free Report)
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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