Envestnet Asset Management Inc. Has $14.84 Million Stake in NiSource Inc. (NYSE:NI)

Envestnet Asset Management Inc. decreased its position in shares of NiSource Inc. (NYSE:NIGet Rating) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 503,155 shares of the utilities provider’s stock after selling 48,711 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of NiSource worth $14,838,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of NiSource by 7.3% in the 2nd quarter. Van ECK Associates Corp now owns 90,523 shares of the utilities provider’s stock worth $2,669,000 after acquiring an additional 6,196 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of NiSource by 5.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 206,480 shares of the utilities provider’s stock worth $6,089,000 after acquiring an additional 10,560 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of NiSource by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 1,286,429 shares of the utilities provider’s stock worth $37,937,000 after acquiring an additional 4,416 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of NiSource by 0.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 96,416 shares of the utilities provider’s stock worth $2,802,000 after acquiring an additional 535 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. raised its position in shares of NiSource by 29.8% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 239,200 shares of the utilities provider’s stock worth $7,054,000 after acquiring an additional 54,950 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

NI has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on NiSource from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. Barclays decreased their target price on NiSource from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. BMO Capital Markets boosted their target price on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. StockNews.com assumed coverage on NiSource in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Credit Suisse Group decreased their target price on NiSource to $27.00 in a research report on Thursday, October 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

NiSource Stock Performance

Shares of NI opened at $25.89 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.47 and a current ratio of 0.63. The stock has a 50 day moving average price of $27.07 and a two-hundred day moving average price of $28.87. The firm has a market capitalization of $10.51 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.46 and a beta of 0.45. NiSource Inc. has a 52 week low of $23.78 and a 52 week high of $32.58.

NiSource (NYSE:NIGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. NiSource had a return on equity of 10.57% and a net margin of 13.07%. During the same period in the previous year, the company posted $0.13 EPS. Equities analysts forecast that NiSource Inc. will post 1.45 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be paid a $0.235 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.63%. NiSource’s payout ratio is presently 61.04%.

NiSource Company Profile

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NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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