Dorsey Wright Associates Lowers stake in NiSource (NI)

NiSource (NI) : Dorsey Wright Associates reduced its stake in NiSource by 3.26% during the most recent quarter end. The investment management company now holds a total of 143,972 shares of NiSource which is valued at $3,780,705 after selling 4,856 shares in NiSource , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.NiSource makes up approximately 1.96% of Dorsey Wright Associates’s portfolio.

Other Hedge Funds, Including , Ls Investment Advisors boosted its stake in NI in the latest quarter, The investment management firm added 11,447 additional shares and now holds a total of 18,768 shares of NiSource which is valued at $492,848. NiSource makes up approx 0.03% of Ls Investment Advisors’s portfolio. First Quadrant L Pca added NI to its portfolio by purchasing 193 company shares during the most recent quarter which is valued at $4,993.Nordea Investment Management Ab boosted its stake in NI in the latest quarter, The investment management firm added 6,715 additional shares and now holds a total of 10,524 shares of NiSource which is valued at $272,256.

NiSource opened for trading at $25.51 and hit $25.8199 on the upside on Thursday, eventually ending the session at $25.75, with a gain of 1.14% or 0.29 points. The heightened volatility saw the trading volume jump to 22,67,409 shares. Company has a market cap of $8,280 M.

On the company’s financial health, NiSource reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.57. The company had revenue of $957.30 million for the quarter, compared to analysts expectations of $1920.53 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.85 EPS.

Many Wall Street Analysts have commented on NiSource. NiSource was Downgraded by Jefferies to ” Underperform” on Jul 25, 2016. Company shares were Downgraded by UBS on Jul 8, 2016 to ” Neutral”, Firm has raised the Price Target to $ 27 from a previous price target of $25 .

NiSource Inc. (NiSource) is an energy holding company. The Company through its subsidiaries provides natural gas electricity and other products and services. It is also engaged in the distribution of natural gas. The Company’s business segments include: Gas Distribution Operations which provides natural gas service and transportation services for residential commercial and industrial customers in Ohio Pennsylvania Virginia Kentucky Maryland Indiana and Massachusetts; Columbia Pipeline Group Operations which provides gas transportation and storage services for local distribution companies (LDCs) marketers and industrial and commercial customers located in 16 northeastern mid-Atlantic Midwestern and southern states and the District of Columbia along with unregulated businesses that include midstream services and development of mineral rights positions and Electric Operations which provides electric services in approximately 20 counties in the northern part of Indiana.

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