Hanson & Doremus Investment Management Has $4.53 Million Holdings in NiSource, Inc $NI

Hanson & Doremus Investment Management lessened its position in NiSource, Inc (NYSE:NI) by 9.3% in the second quarter, HoldingsChannel reports. The fund owned 112,345 shares of the utilities provider’s stock after selling 11,539 shares during the quarter. Hanson & Doremus Investment Management’s holdings in NiSource were worth $4,532,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NI. MassMutual Private Wealth & Trust FSB grew its stake in NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 299 shares during the period. Larson Financial Group LLC grew its stake in NiSource by 48.8% in the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 266 shares during the period. Quent Capital LLC grew its stake in NiSource by 44.7% in the first quarter. Quent Capital LLC now owns 1,003 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 310 shares during the period. Brooklyn Investment Group grew its stake in NiSource by 57.3% in the first quarter. Brooklyn Investment Group now owns 1,370 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 499 shares during the period. Finally, Hemington Wealth Management grew its stake in NiSource by 39.4% in the first quarter. Hemington Wealth Management now owns 1,551 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 438 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

NI has been the topic of a number of recent research reports. Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Barclays restated an “overweight” rating and issued a $44.00 target price (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. Zacks Research upgraded NiSource to a “hold” rating in a report on Monday, August 11th. Finally, Jefferies Financial Group lowered NiSource from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $44.00 in a report on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average target price of $43.88.

NiSource Stock Performance

Shares of NiSource stock opened at $42.56 on Monday. The business’s fifty day simple moving average is $41.77 and its 200 day simple moving average is $40.16. The firm has a market capitalization of $20.04 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 2.88 and a beta of 0.60. NiSource, Inc has a 12 month low of $33.65 and a 12 month high of $43.51. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. NiSource had a return on equity of 8.25% and a net margin of 14.46%.During the same period last year, the company posted $0.21 earnings per share. As a group, analysts anticipate that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource’s dividend payout ratio (DPR) is 59.57%.

About NiSource

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.