Cwm LLC Sells 31,942 Shares of NiSource Inc. (NYSE:NI)

by · The Markets Daily

Cwm LLC reduced its holdings in shares of NiSource Inc. (NYSE:NI – Free Report) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 795,938 shares of the utilities provider’s stock after selling 31,942 shares during the period. Cwm LLC’s holdings in NiSource were worth $27,579,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NI. Skyline Advisors Inc. acquired a new stake in shares of NiSource during the third quarter worth approximately $221,000. GAMMA Investing LLC increased its position in NiSource by 25.1% in the third quarter. GAMMA Investing LLC now owns 14,560 shares of the utilities provider’s stock worth $505,000 after purchasing an additional 2,919 shares during the period. Czech National Bank grew its position in shares of NiSource by 7.0% during the 3rd quarter. Czech National Bank now owns 91,366 shares of the utilities provider’s stock worth $3,166,000 after buying an additional 5,938 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of NiSource during the 2nd quarter valued at $2,964,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in NiSource in the second quarter valued at about $47,000. 91.64% of the stock is owned by institutional investors and hedge funds.

NiSource Price Performance

Shares of NI opened at $33.74 on Friday. The company’s 50-day moving average is $33.14 and its 200-day moving average is $30.20. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The firm has a market capitalization of $15.12 billion, a PE ratio of 22.05, a PEG ratio of 2.86 and a beta of 0.51. NiSource Inc. has a fifty-two week low of $24.58 and a fifty-two week high of $35.10.

NiSource (NYSE:NI – Get Free Report) last released 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 net margin of 14.76% and a return on equity of 9.15%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.11 EPS. Equities analysts forecast that NiSource Inc. will post 1.72 EPS for the current year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be paid a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a yield of 3.14%. NiSource’s dividend payout ratio (DPR) is presently 69.28%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NI shares. Evercore ISI boosted their price objective on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. BMO Capital Markets upped their price target on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Bank of America began coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price on the stock. Barclays boosted their target price on shares of NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Mizuho began coverage on shares of NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Check Out Our Latest Analysis on NI

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.

See Also

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