Envestnet Portfolio Solutions Inc. Has $12.27 Million Stock Holdings in NiSource, Inc $NI

Envestnet Portfolio Solutions Inc. boosted its position in NiSource, Inc (NYSE:NI) by 41.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 304,160 shares of the utilities provider’s stock after acquiring an additional 88,978 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in NiSource were worth $12,270,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NI. Sequoia Financial Advisors LLC raised its stake in NiSource by 68.2% in the second quarter. Sequoia Financial Advisors LLC now owns 47,399 shares of the utilities provider’s stock valued at $1,912,000 after buying an additional 19,211 shares during the period. MGO One Seven LLC increased its holdings in shares of NiSource by 47.2% during the 2nd quarter. MGO One Seven LLC now owns 20,328 shares of the utilities provider’s stock worth $820,000 after acquiring an additional 6,520 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in NiSource by 179.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 60,375 shares of the utilities provider’s stock valued at $2,419,000 after acquiring an additional 38,760 shares during the period. Board of the Pension Protection Fund lifted its holdings in NiSource by 25.6% during the 2nd quarter. Board of the Pension Protection Fund now owns 30,900 shares of the utilities provider’s stock valued at $1,247,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in NiSource by 16.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 48,222 shares of the utilities provider’s stock valued at $1,945,000 after purchasing an additional 6,969 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NI shares. BMO Capital Markets increased their price objective on shares of NiSource from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of NiSource in a research note on Wednesday, October 8th. Jefferies Financial Group downgraded shares of NiSource from a “buy” rating to a “hold” rating and cut their price objective for the stock from $48.00 to $44.00 in a research report on Friday, September 5th. Zacks Research upgraded NiSource to a “hold” rating in a report on Monday, August 11th. Finally, Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.44.

NiSource Stock Performance

Shares of NYSE:NI opened at $42.69 on Tuesday. The company’s 50 day moving average price is $42.02 and its two-hundred day moving average price is $40.45. NiSource, Inc has a 12-month low of $33.86 and a 12-month high of $44.51. The firm has a market cap of $20.10 billion, a PE ratio of 22.71, a PEG ratio of 2.90 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.59 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a return on equity of 8.25% and a net margin of 14.46%.During the same period in the previous year, the company posted $0.21 earnings per share. Equities research analysts predict that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. NiSource’s dividend payout ratio is 59.57%.

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.