Lynch Associatesin buys $585,874 stake in NiSource (NI)

NiSource (NI) : Lynch Associatesin scooped up 15,412 additional shares in NiSource during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 25,640 shares of NiSource which is valued at $585,874.NiSource makes up approximately 0.26% of Lynch Associatesin’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management boosted its stake in NI in the latest quarter, The investment management firm added 4,742 additional shares and now holds a total of 20,507 shares of NiSource which is valued at $468,585. NiSource makes up approx 0.03% of Eqis Capital Management’s portfolio.

NiSource closed down -0.64 points or -2.71% at $22.98 with 50,39,718 shares getting traded on Tuesday. Post opening the session at $23.56, the shares hit an intraday low of $22.79 and an intraday high of $23.56 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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