Mackenzie Financial Corp Increases Stock Holdings in NiSource Inc. (NYSE:NI)

Mackenzie Financial Corp lifted its stake in NiSource Inc. (NYSE:NI) by 49.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,605 shares of the utilities provider’s stock after purchasing an additional 3,859 shares during the quarter. Mackenzie Financial Corp’s holdings in NiSource were worth $334,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in NiSource by 0.5% during the 2nd quarter. BlackRock Inc. now owns 30,702,002 shares of the utilities provider’s stock valued at $884,217,000 after purchasing an additional 151,008 shares in the last quarter. Luminus Management LLC raised its position in NiSource by 117.6% during the 2nd quarter. Luminus Management LLC now owns 2,666,933 shares of the utilities provider’s stock valued at $76,808,000 after purchasing an additional 1,441,055 shares in the last quarter. Verition Fund Management LLC bought a new stake in NiSource during the 2nd quarter valued at $3,004,000. HM Payson & Co. bought a new stake in NiSource during the 2nd quarter valued at $100,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in NiSource by 2.6% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,487 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

In related news, EVP Violet Sistovaris sold 40,405 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $29.16, for a total transaction of $1,178,209.80. Following the transaction, the executive vice president now directly owns 105,927 shares of the company’s stock, valued at approximately $3,088,831.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael E. Jesanis sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $29.01, for a total value of $174,060.00. Following the transaction, the director now directly owns 32,997 shares in the company, valued at $957,242.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,405 shares of company stock valued at $2,768,990. Corporate insiders own 0.35% of the company’s stock.

A number of equities research analysts have weighed in on the company. Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Wednesday, July 24th. ValuEngine lowered NiSource from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Credit Suisse Group lowered NiSource from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research lowered NiSource from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $28.48.

NI opened at $29.14 on Friday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.15 and a beta of 0.23. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40. NiSource Inc. has a 12 month low of $24.19 and a 12 month high of $30.67. The stock has a fifty day moving average price of $29.47 and a 200-day moving average price of $28.81.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.06 billion. NiSource had a return on equity of 10.60% and a net margin of 3.15%. During the same period in the previous year, the company posted $0.07 EPS. On average, equities research analysts forecast that NiSource Inc. will post 1.3 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, October 30th. NiSource’s payout ratio is 61.54%.

About NiSource

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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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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