Creative Planning trimmed its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 54.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,865 shares of the utilities provider's stock after selling 57,254 shares during the quarter. Creative Planning's holdings in NiSource were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in NI. Thomasville National Bank increased its stake in shares of NiSource by 925.4% in the third quarter. Thomasville National Bank now owns 550,832 shares of the utilities provider's stock valued at $19,086,000 after purchasing an additional 497,113 shares during the period. CHICAGO TRUST Co NA raised its stake in NiSource by 114.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 24,437 shares of the utilities provider's stock valued at $847,000 after acquiring an additional 13,028 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in NiSource by 575.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,400 shares of the utilities provider's stock worth $187,000 after acquiring an additional 4,600 shares during the period. Tobam raised its stake in shares of NiSource by 27.8% during the third quarter. Tobam now owns 2,501 shares of the utilities provider's stock valued at $87,000 after purchasing an additional 544 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in NiSource in the third quarter worth about $1,132,000. Institutional investors own 91.64% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of NiSource in a research report on Monday. They set a "buy" rating and a $39.00 price target on the stock. Wells Fargo & Company increased their price target on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Mizuho assumed coverage on NiSource in a research note on Thursday, July 11th. They issued an "outperform" rating and a $33.00 price objective on the stock. Barclays raised their target price on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Finally, BMO Capital Markets upped their price target on shares of NiSource from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.63.
Check Out Our Latest Research Report on NiSource
NiSource Trading Up 2.6 %
NiSource stock traded up $0.89 during midday trading on Wednesday, reaching $35.31. The stock had a trading volume of 2,864,665 shares, compared to its average volume of 4,027,902. The firm's fifty day simple moving average is $33.99 and its two-hundred day simple moving average is $30.92. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. NiSource Inc. has a twelve month low of $24.58 and a twelve month high of $35.48. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.91 and a beta of 0.51.
NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.06. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $0.11 earnings per share. Equities analysts anticipate that NiSource Inc. will post 1.72 EPS for the current fiscal year.
NiSource Dividend Announcement
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 dividend of $0.265 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.00%. NiSource's dividend payout ratio is 65.03%.
NiSource Profile
(
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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