Susquehanna Fundamental Investments LLC Decreases Stock Holdings in NiSource Inc. (NYSE:NI)

Susquehanna Fundamental Investments LLC lessened its holdings in NiSource Inc. (NYSE:NI) by 13.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,784 shares of the utilities provider’s stock after selling 13,373 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in NiSource were worth $2,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MCF Advisors LLC purchased a new position in NiSource in the 2nd quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of NiSource during the second quarter worth $25,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter worth $31,000. Crewe Advisors LLC purchased a new position in shares of NiSource in the first quarter valued at $31,000. Finally, Fidelis Capital Partners LLC acquired a new stake in NiSource during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Price Performance

Shares of NYSE NI opened at $34.65 on Tuesday. The business has a 50 day simple moving average of $32.64 and a 200-day simple moving average of $29.82. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $34.69. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.86 and a beta of 0.51. The company has a current ratio of 0.78, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. NiSource had a net margin of 14.76% and a return on equity of 9.15%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, equities research analysts expect that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.06%. NiSource’s payout ratio is currently 69.28%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NI shares. Mizuho began coverage on shares of NiSource in a research report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective for the company. BMO Capital Markets increased their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Barclays lifted their price objective on NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Evercore ISI increased their target price on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America started coverage on shares of NiSource in a research note on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

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.