NiSource Inc. (NYSE:NI) Stock Holdings Lowered by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its holdings in shares of NiSource Inc. (NYSE:NI) by 1.5% in the 2nd quarter, Holdings Channel reports. The firm owned 4,032,503 shares of the utilities provider’s stock after selling 63,383 shares during the period. NiSource makes up approximately 1.5% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 17th largest holding. Duff & Phelps Investment Management Co.’s holdings in NiSource were worth $116,176,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NI. Lindbrook Capital LLC raised its holdings in NiSource by 23.8% during the 1st quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider’s stock worth $53,000 after buying an additional 369 shares during the period. Thomasville National Bank lifted its position in shares of NiSource by 0.7% in the 2nd quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider’s stock valued at $1,548,000 after acquiring an additional 372 shares in the last quarter. Sound Income Strategies LLC boosted its stake in NiSource by 11.1% in the 1st quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 449 shares during the period. Empirical Finance LLC grew its position in NiSource by 3.6% during the 1st quarter. Empirical Finance LLC now owns 14,291 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 490 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in NiSource by 5.4% during the 1st quarter. Tidal Investments LLC now owns 9,728 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 499 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NI shares. Mizuho initiated coverage on NiSource in a research report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price for the company. Barclays raised their price objective on NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. BMO Capital Markets upped their target price on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Evercore ISI increased their price target on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Bank of America initiated coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, NiSource currently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

NiSource Trading Up 0.8 %

Shares of NYSE NI opened at $34.38 on Friday. The business has a 50 day simple moving average of $32.56 and a 200 day simple moving average of $29.74. NiSource Inc. has a 52 week low of $22.86 and a 52 week high of $34.56. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.86 and a beta of 0.51. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.78.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, research analysts predict that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, October 31st. NiSource’s payout ratio is 69.28%.

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.