Mackenzie Financial Corp Sells 93,544 Shares of NiSource Inc. (NYSE:NI)

Mackenzie Financial Corp reduced its position in shares of NiSource Inc. (NYSE:NI) by 20.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 370,743 shares of the utilities provider’s stock after selling 93,544 shares during the period. Mackenzie Financial Corp owned approximately 0.08% of NiSource worth $10,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in shares of NiSource during the 2nd quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of NiSource in the second quarter valued at approximately $25,000. First Financial Corp IN bought a new stake in shares of NiSource in the first quarter valued at approximately $31,000. Crewe Advisors LLC acquired a new stake in NiSource during the first quarter worth approximately $31,000. Finally, Fidelis Capital Partners LLC bought a new position in NiSource during the 1st quarter worth $43,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Price Performance

NI stock opened at $34.65 on Tuesday. The stock has a market cap of $15.53 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.86 and a beta of 0.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The company has a 50 day simple moving average of $32.64 and a 200 day simple moving average of $29.82. NiSource Inc. has a 1 year low of $22.86 and a 1 year high of $34.69.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $0.11 EPS. Research analysts anticipate that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Announces Dividend

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

Wall Street Analyst Weigh In

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