NiSource Inc. (NYSE:NI) Shares Sold by Guggenheim Capital LLC
Guggenheim Capital LLC cut its position in NiSource Inc. (NYSE:NI) by 21.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,698 shares of the utilities provider’s stock after selling 47,927 shares during the period. Guggenheim Capital LLC’s holdings in NiSource were worth $4,337,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of NiSource by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 71,058 shares of the utilities provider’s stock worth $1,978,000 after acquiring an additional 383 shares in the last quarter. Eaton Vance Management increased its stake in NiSource by 0.4% in the fourth quarter. Eaton Vance Management now owns 96,575 shares of the utilities provider’s stock valued at $2,689,000 after purchasing an additional 391 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in NiSource during the fourth quarter worth approximately $2,763,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of NiSource by 3.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,325 shares of the utilities provider’s stock worth $333,000 after buying an additional 442 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of NiSource by 2.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 26,440 shares of the utilities provider’s stock valued at $736,000 after buying an additional 679 shares in the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.
A number of brokerages recently issued reports on NI. Wolfe Research reissued a “market perform” rating and issued a $26.00 target price on shares of NiSource in a research report on Friday, May 15th. Jefferies Financial Group cut shares of NiSource from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a report on Friday, April 24th. Zacks Investment Research downgraded shares of NiSource from a “hold” rating to a “sell” rating and set a $25.00 price target for the company. in a research report on Thursday, June 11th. Barclays lowered their price objective on shares of NiSource from $31.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Finally, Bank of America cut shares of NiSource from a “buy” rating to a “neutral” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.36.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.95 billion. NiSource had a net margin of 4.85% and a return on equity of 9.54%. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, equities research analysts expect that NiSource Inc. will post 1.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.84 annualized dividend and a yield of 3.70%. NiSource’s dividend payout ratio is presently 63.64%.
NiSource Company Profile
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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