Allworth Financial LP Has $86,000 Stock Holdings in NiSource Inc. (NYSE:NI)

Allworth Financial LP lowered its stake in NiSource Inc. (NYSE:NI) by 45.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,483 shares of the utilities provider’s stock after selling 2,057 shares during the period. Allworth Financial LP’s holdings in NiSource were worth $86,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in NiSource by 7.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 438,845 shares of the utilities provider’s stock worth $12,144,000 after acquiring an additional 29,055 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in NiSource by 12.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 515,724 shares of the utilities provider’s stock valued at $14,265,000 after buying an additional 57,658 shares during the last quarter. Sei Investments Co. increased its position in NiSource by 26.0% in the 1st quarter. Sei Investments Co. now owns 796,693 shares of the utilities provider’s stock worth $22,036,000 after buying an additional 164,532 shares during the period. California State Teachers Retirement System lifted its holdings in shares of NiSource by 3.5% during the first quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider’s stock worth $16,551,000 after buying an additional 20,060 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in NiSource by 47.8% in the 1st quarter. Russell Investments Group Ltd. now owns 647,984 shares of the utilities provider’s stock valued at $17,923,000 after purchasing an additional 209,451 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Trading Up 0.8 %

Shares of NYSE NI opened at $35.16 on Friday. NiSource Inc. has a 1-year low of $24.58 and a 1-year high of $35.48. The company has a 50-day moving average of $34.10 and a two-hundred day moving average of $30.98. The company has a market cap of $15.77 billion, a PE ratio of 21.57, a P/E/G ratio of 2.91 and a beta of 0.51. The company has a current ratio of 0.78, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $986.00 million. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, equities analysts expect that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.01%. NiSource’s payout ratio is 65.03%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NI shares. Jefferies Financial Group assumed coverage on NiSource in a research report on Monday. They issued a “buy” rating and a $39.00 price objective for the company. BMO Capital Markets boosted their target price on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Evercore ISI increased their target price 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. JPMorgan Chase & Co. boosted their price target on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Mizuho initiated coverage on shares of NiSource in a report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, NiSource currently has an average rating of “Moderate Buy” and a consensus target price of $36.63.

About NiSource

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.