Cramer Rosenthal Mcglynn Lowers stake in NiSource (NI)

NiSource (NI) : Cramer Rosenthal Mcglynn reduced its stake in NiSource by 9.28% during the most recent quarter end. The investment management company now holds a total of 3,085,161 shares of NiSource which is valued at $77,159,877 after selling 315,725 shares in NiSource , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.NiSource makes up approximately 1.20% of Cramer Rosenthal Mcglynn’s portfolio.

Other Hedge Funds, Including , Cubist Systematic Strategies boosted its stake in NI in the latest quarter, The investment management firm added 9,417 additional shares and now holds a total of 22,935 shares of NiSource which is valued at $573,604. NiSource makes up approx 0.03% of Cubist Systematic Strategies’s portfolio.Tcw Group Inc boosted its stake in NI in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 23,600 shares of NiSource which is valued at $590,236.Citadel Advisors reduced its stake in NI by selling 428,359 shares or 94.83% in the most recent quarter. The Hedge Fund company now holds 23,349 shares of NI which is valued at $583,958. Cleararc Capital Inc added NI to its portfolio by purchasing 7,829 company shares during the most recent quarter which is valued at $195,803. NiSource makes up approx 0.04% of Cleararc Capital Inc’s portfolio.Bollard Group boosted its stake in NI in the latest quarter, The investment management firm added 413 additional shares and now holds a total of 65,775 shares of NiSource which is valued at $1,727,252. NiSource makes up approx 0.12% of Bollard Group’s portfolio.

NiSource closed down -0.11 points or -0.46% at $23.83 with 16,99,929 shares getting traded on Thursday. Post opening the session at $23.91, the shares hit an intraday low of $23.77 and an intraday high of $24.0099 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, NiSource reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.07.Analysts expectations of $ 1044.40.During the same quarter in the previous year, the company posted $0.18 EPS.

Investors should note that on Aug 9, 2016, NiSource announced a cash dividend of $0.1650. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 18, 2016.

Many Wall Street Analysts have commented on NiSource. NiSource was Downgraded by Credit Suisse to ” Underperform” on Aug 19, 2016. 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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