My Legacy Advisors LLC Sells 3,986 Shares of NiSource Inc. (NYSE:NI)

My Legacy Advisors LLC reduced its holdings in NiSource Inc. (NYSE:NI) by 16.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,320 shares of the utilities provider’s stock after selling 3,986 shares during the period. My Legacy Advisors LLC’s holdings in NiSource were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NI. Nomura Holdings Inc. acquired a new stake in NiSource in the 4th quarter valued at $221,000. Park Avenue Securities LLC boosted its stake in NiSource by 4.5% in the first quarter. Park Avenue Securities LLC now owns 34,640 shares of the utilities provider’s stock worth $958,000 after purchasing an additional 1,495 shares in the last quarter. International Assets Investment Management LLC boosted its stake in NiSource by 17.0% in the first quarter. International Assets Investment Management LLC now owns 12,578 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 1,830 shares in the last quarter. Ballentine Partners LLC acquired a new position in NiSource in the first quarter worth $211,000. Finally, Global Assets Advisory LLC acquired a new position in NiSource in the first quarter worth $1,203,000. 91.64% of the stock is owned by institutional investors.

NiSource Trading Down 0.4 %

Shares of NI stock traded down $0.14 on Tuesday, reaching $34.79. 519,665 shares of the stock were exchanged, compared to its average volume of 4,046,241. The stock has a 50 day moving average price of $33.63 and a 200 day moving average price of $30.60. The stock has a market cap of $15.60 billion, a PE ratio of 22.77, a P/E/G ratio of 2.84 and a beta of 0.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. NiSource Inc. has a one year low of $24.58 and a one year high of $35.19.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the prior year, the company posted $0.11 earnings per share. Equities research analysts forecast that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.05%. NiSource’s dividend payout ratio is presently 69.28%.

Wall Street Analyst Weigh In

A number of research firms have commented on NI. Wells Fargo & Company boosted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays boosted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI boosted their price objective on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. BMO Capital Markets boosted their price objective on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Mizuho started coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 target price for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

NiSource Company 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.