Beverly Hills Private Wealth LLC Sells 918 Shares of NiSource, Inc $NI

Beverly Hills Private Wealth LLC lessened its stake in NiSource, Inc (NYSE:NI) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,001 shares of the utilities provider’s stock after selling 918 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in NiSource were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of NiSource by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider’s stock worth $2,439,236,000 after purchasing an additional 3,050,420 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of NiSource by 12.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider’s stock worth $962,997,000 after purchasing an additional 2,650,827 shares during the period. Jennison Associates LLC raised its holdings in shares of NiSource by 8.0% in the 1st quarter. Jennison Associates LLC now owns 11,577,832 shares of the utilities provider’s stock worth $464,155,000 after purchasing an additional 857,653 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of NiSource by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,535,924 shares of the utilities provider’s stock worth $221,935,000 after purchasing an additional 2,605,923 shares during the period. Finally, Northern Trust Corp grew its stake in NiSource by 4.7% in the 1st quarter. Northern Trust Corp now owns 4,638,973 shares of the utilities provider’s stock valued at $185,976,000 after buying an additional 206,448 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

NI has been the topic of a number of analyst reports. BMO Capital Markets boosted their target price on shares of NiSource from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Evercore ISI boosted their target price on shares of NiSource from $45.00 to $46.00 and gave the company an “in-line” rating in a report on Monday. Zacks Research raised shares of NiSource to a “hold” rating in a report on Monday, August 11th. Weiss Ratings reissued a “buy (b)” rating on shares of NiSource in a report on Wednesday, October 8th. Finally, Jefferies Financial Group cut shares of NiSource from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $44.00 in a report on Friday, September 5th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

NiSource Stock Up 1.5%

NI opened at $43.89 on Tuesday. The company has a fifty day moving average price of $42.13 and a 200-day moving average price of $40.59. The firm has a market capitalization of $20.67 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 3.19 and a beta of 0.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48. NiSource, Inc has a one year low of $34.23 and a one year high of $44.51.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. NiSource had a net margin of 14.46% and a return on equity of 8.25%. During the same period in the previous year, the business earned $0.21 EPS. Equities research analysts expect that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be given a $0.28 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.12 annualized dividend and a yield of 2.6%. NiSource’s payout ratio is 59.57%.

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.