Reaves W H & Co. Inc. reduced its position in NiSource, Inc (NYSE:NI) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,187,562 shares of the utilities provider’s stock after selling 25,017 shares during the period. NiSource accounts for approximately 2.0% of Reaves W H & Co. Inc.’s portfolio, making the stock its 17th largest holding. Reaves W H & Co. Inc. owned approximately 0.65% of NiSource worth $55,980,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. FMR LLC grew its holdings in shares of NiSource by 11.3% during the first quarter. FMR LLC now owns 651,309 shares of the utilities provider’s stock worth $15,495,000 after purchasing an additional 66,298 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NiSource by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,220,504 shares of the utilities provider’s stock worth $29,034,000 after purchasing an additional 12,599 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in NiSource by 4.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 24,971 shares of the utilities provider’s stock worth $633,000 after buying an additional 994 shares during the last quarter. Gateway Investment Advisers LLC lifted its position in NiSource by 1.5% in the 2nd quarter. Gateway Investment Advisers LLC now owns 20,560 shares of the utilities provider’s stock worth $521,000 after buying an additional 305 shares during the last quarter. Finally, Creative Planning lifted its position in NiSource by 9.6% in the 2nd quarter. Creative Planning now owns 34,029 shares of the utilities provider’s stock worth $863,000 after buying an additional 2,970 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.
NI has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on NiSource in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective for the company. Credit Suisse Group upgraded NiSource from an “underperform” rating to an “outperform” rating and upped their target price for the company from $25.00 to $29.00 in a report on Monday, August 14th. KeyCorp restated a “buy” rating and set a $29.50 target price on shares of NiSource in a report on Friday, September 1st. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, J P Morgan Chase & Co upped their target price on NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.85.
NiSource, Inc (NYSE NI) traded up $0.08 during trading on Friday, hitting $27.32. The company had a trading volume of 3,621,200 shares, compared to its average volume of 2,518,583. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32. NiSource, Inc has a 12 month low of $21.31 and a 12 month high of $27.76. The stock has a market capitalization of $9,174.26, a PE ratio of 23.69, a PEG ratio of 4.02 and a beta of 0.37.
NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. NiSource had a return on equity of 8.97% and a net margin of 5.61%. The company had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $901.00 million. During the same period last year, the firm posted $0.06 earnings per share. research analysts anticipate that NiSource, Inc will post 1.19 earnings per share for the current fiscal year.
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NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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