TD Asset Management Inc Cuts Stake in NiSource, Inc $NI

TD Asset Management Inc lessened its holdings in NiSource, Inc (NYSE:NI) by 0.4% during the second quarter, Holdings Channel.com reports. The firm owned 1,571,071 shares of the utilities provider’s stock after selling 6,213 shares during the quarter. TD Asset Management Inc’s holdings in NiSource were worth $63,377,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new position in shares of NiSource in the second quarter worth about $32,000. Larson Financial Group LLC grew its position in NiSource by 48.8% during the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 266 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in NiSource in the 2nd quarter worth approximately $40,000. Brooklyn Investment Group lifted its position in NiSource by 57.3% in the first quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 499 shares during the last quarter. Finally, Hemington Wealth Management lifted its position in NiSource by 39.4% in the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 438 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NI shares. Barclays restated an “overweight” rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Jefferies Financial Group downgraded shares of NiSource from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $44.00 in a research note on Friday, September 5th. Evercore ISI initiated coverage on NiSource in a research note on Monday, October 6th. They issued an “in-line” rating and a $45.00 target price on the stock. Finally, Zacks Research raised NiSource to a “hold” rating in a research report on Monday, August 11th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.44.

NiSource Trading Up 1.5%

Shares of NI opened at $43.56 on Thursday. NiSource, Inc has a 1-year low of $34.23 and a 1-year high of $44.51. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average price is $42.05 and its 200-day moving average price is $40.49. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.90 and a beta of 0.60.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business 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 last year, the business posted $0.21 earnings per share. Sell-side analysts anticipate that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Dividend Announcement

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

NiSource Profile

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.