NiSource, Inc (NI) Position Cut by Monarch Partners Asset Management LLC
Monarch Partners Asset Management LLC reduced its position in shares of NiSource, Inc (NYSE:NI) by 60.9% during the second quarter, Holdings Channel reports. The firm owned 236,680 shares of the utilities provider’s stock after selling 368,280 shares during the period. Monarch Partners Asset Management LLC’s holdings in NiSource were worth $6,002,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in shares of NiSource during the first quarter worth about $108,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter worth about $124,000. CENTRAL TRUST Co increased its position in shares of NiSource by 454.0% in the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock worth $148,000 after buying an additional 4,785 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock worth $144,000 after buying an additional 27 shares during the period. Finally, LSV Asset Management acquired a new position in shares of NiSource during the first quarter worth about $159,000. Hedge funds and other institutional investors own 82.87% of the company’s stock.
NiSource, Inc (NYSE NI) opened at 26.35 on Friday. NiSource, Inc has a 1-year low of $21.17 and a 1-year high of $26.69. The stock’s 50 day moving average price is $25.88 and its 200 day moving average price is $24.49. The company has a market cap of $8.59 billion, a P/E ratio of 30.57 and a beta of 0.37.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The company had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities analysts anticipate that NiSource, Inc will post $1.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio is presently 81.40%.
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NI has been the subject of several research reports. Wells Fargo & Company initiated coverage on NiSource in a research note on Wednesday. They set an “outperform” rating and a $30.00 price target for the company. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and set a $23.00 price target on shares of NiSource in a research note on Friday, July 14th. Barclays PLC reiterated an “equal weight” rating and set a $26.00 price target (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Ladenburg Thalmann Financial Services initiated coverage on NiSource in a research note on Friday, May 19th. They set a “buy” rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.89.
In other news, EVP Pablo Vegas sold 7,200 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $25.12, for a total value of $180,864.00. Following the completion of the transaction, the executive vice president now owns 94,885 shares of the company’s stock, valued at $2,383,511.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Donald Eugene Brown sold 6,906 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the transaction, the chief financial officer now directly owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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