Cramer Rosenthal Mcglynn LLC reduced its stake in NiSource Inc. (NYSE:NI) by 3.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,810,412 shares of the utilities provider’s stock after selling 55,575 shares during the quarter. NiSource accounts for approximately 1.4% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 20th largest holding. Cramer Rosenthal Mcglynn LLC owned 0.48% of NiSource worth $52,140,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Coastal Investment Advisors Inc. purchased a new stake in shares of NiSource in the second quarter worth about $31,000. Pearl River Capital LLC purchased a new stake in shares of NiSource in the second quarter worth about $34,000. Cornerstone Advisors Inc. lifted its holdings in shares of NiSource by 36.9% in the second quarter. Cornerstone Advisors Inc. now owns 1,303 shares of the utilities provider’s stock worth $38,000 after buying an additional 351 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of NiSource by 2,080.5% in the second quarter. Meeder Asset Management Inc. now owns 1,897 shares of the utilities provider’s stock worth $55,000 after buying an additional 1,810 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of NiSource in the second quarter worth about $64,000. 92.17% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on NI. Wolfe Research downgraded shares of NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Zacks Investment Research downgraded shares of NiSource from a “hold” rating to a “sell” rating and set a $30.00 price target on the stock. in a report on Wednesday, May 29th. Credit Suisse Group downgraded shares of NiSource from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, Argus raised shares of NiSource from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.32.
In other NiSource news, EVP Carrie J. Hightman sold 22,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $29.96, for a total transaction of $659,120.00. Following the transaction, the executive vice president now directly owns 329,207 shares in the company, valued at $9,863,041.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph W. Mulpas sold 12,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $29.78, for a total value of $357,360.00. The disclosure for this sale can be found here. Insiders have sold 94,405 shares of company stock worth $2,768,990 over the last quarter. Company insiders own 0.35% of the company’s stock.
Shares of NI stock traded up $0.11 during trading on Friday, hitting $29.22. The company had a trading volume of 11,421 shares, compared to its average volume of 2,756,447. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average is $29.28 and its two-hundred day moving average is $28.51. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 4.14 and a beta of 0.23. NiSource Inc. has a 52 week low of $24.19 and a 52 week high of $30.34.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. NiSource had a net margin of 3.15% and a return on equity of 10.60%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business earned $0.07 earnings per share. On average, research analysts predict that NiSource Inc. will post 1.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, October 30th. NiSource’s payout ratio is currently 61.54%.
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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