Sequoia Financial Advisors LLC Sells 15,828 Shares of NiSource Inc. (NYSE:NI)

Sequoia Financial Advisors LLC cut its holdings in NiSource Inc. (NYSE:NI - Free Report) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,460 shares of the utilities provider's stock after selling 15,828 shares during the period. Sequoia Financial Advisors LLC's holdings in NiSource were worth $6,149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co raised its position in shares of NiSource by 7.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 438,845 shares of the utilities provider's stock valued at $12,144,000 after purchasing an additional 29,055 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in NiSource by 12.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 515,724 shares of the utilities provider's stock worth $14,265,000 after acquiring an additional 57,658 shares during the last quarter. Sei Investments Co. boosted its holdings in NiSource by 26.0% during the first quarter. Sei Investments Co. now owns 796,693 shares of the utilities provider's stock valued at $22,036,000 after acquiring an additional 164,532 shares during the period. Brookstone Capital Management acquired a new stake in shares of NiSource in the first quarter valued at about $9,686,000. Finally, California State Teachers Retirement System increased its stake in shares of NiSource by 3.5% in the first quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider's stock worth $16,551,000 after purchasing an additional 20,060 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

NiSource Price Performance

NYSE:NI traded up $0.54 during trading hours on Wednesday, reaching $35.31. The company had a trading volume of 3,259,671 shares, compared to its average volume of 4,055,697. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $33.69 and a two-hundred day moving average of $30.65. NiSource Inc. has a one year low of $24.58 and a one year high of $35.32. The firm has a market capitalization of $15.83 billion, a PE ratio of 22.99, a PEG ratio of 2.84 and a beta of 0.51.

NiSource (NYSE:NI - Get Free Report) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same quarter last year, the company posted $0.11 EPS. Analysts forecast that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Thursday, October 31st. NiSource's payout ratio is presently 69.28%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NI. JPMorgan Chase & Co. raised their price target on shares of NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays boosted their price target on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday. Mizuho began coverage on NiSource in a research report on Thursday, July 11th. They issued an "outperform" rating and a $33.00 price objective for the company. Evercore ISI boosted their price objective on NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets upped their target price on NiSource from $34.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.29.

NiSource 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.