Assenagon Asset Management S.A. Trims Stake in NiSource Inc. (NYSE:NI)

Assenagon Asset Management S.A. lessened its holdings in NiSource Inc. (NYSE:NI - Free Report) by 31.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,229,233 shares of the utilities provider's stock after selling 1,020,247 shares during the period. Assenagon Asset Management S.A. owned 0.50% of NiSource worth $77,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NI. MCF Advisors LLC bought a new stake in shares of NiSource in the second quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in NiSource during the 2nd quarter worth approximately $25,000. First Financial Corp IN bought a new stake in shares of NiSource in the first quarter worth $31,000. Crewe Advisors LLC acquired a new position in NiSource during the 1st quarter worth about $31,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of NiSource in the 1st quarter valued at about $43,000. 91.64% of the stock is owned by institutional investors.

NiSource Stock Performance

Shares of NI stock traded down $0.05 during trading hours on Thursday, hitting $35.26. 1,895,093 shares of the company were exchanged, compared to its average volume of 4,045,209. The company has a current ratio of 0.78, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.84 and a beta of 0.51. The firm has a fifty day simple moving average of $33.76 and a 200 day simple moving average of $30.68. NiSource Inc. has a 52-week low of $24.58 and a 52-week high of $35.48.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the prior year, the firm earned $0.11 EPS. Research analysts predict that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.01%. NiSource's payout ratio is currently 69.28%.

Analyst Upgrades and Downgrades

NI has been the subject of several analyst reports. 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 report on Wednesday. Mizuho began coverage on NiSource in a research note on Thursday, July 11th. They set an "outperform" rating and a $33.00 target price for the company. BMO Capital Markets raised their price objective on shares of NiSource from $34.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of NiSource in a report on Thursday, September 12th. They set a "buy" rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.29.

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.