Hsbc Holdings PLC Reduces Position in NiSource Inc. (NI)

Hsbc Holdings PLC cut its position in shares of NiSource Inc. (NYSE:NI) by 11.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,899 shares of the utilities provider’s stock after selling 31,749 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of NiSource worth $6,152,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NI. Oregon Public Employees Retirement Fund lifted its stake in shares of NiSource by 5.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 36,838 shares of the utilities provider’s stock valued at $968,000 after purchasing an additional 1,878 shares during the last quarter. Hartford Investment Management Co. lifted its stake in shares of NiSource by 5.4% in the 3rd quarter. Hartford Investment Management Co. now owns 41,289 shares of the utilities provider’s stock valued at $1,029,000 after purchasing an additional 2,107 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of NiSource by 5.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,926 shares of the utilities provider’s stock valued at $1,045,000 after purchasing an additional 2,149 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in shares of NiSource by 18.0% in the 2nd quarter. First Republic Investment Management Inc. now owns 14,263 shares of the utilities provider’s stock valued at $374,000 after purchasing an additional 2,174 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in shares of NiSource by 8.7% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 27,860 shares of the utilities provider’s stock valued at $732,000 after purchasing an additional 2,231 shares during the last quarter. 91.20% of the stock is owned by institutional investors.

NI has been the subject of several analyst reports. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, October 3rd. Goldman Sachs Group lowered NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 price objective for the company. in a research note on Friday, September 21st. Wolfe Research set a $27.00 price objective on NiSource and gave the company a “buy” rating in a research note on Monday, September 17th. Bank of America reissued a “buy” rating and set a $28.00 price target on shares of NiSource in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. set a $27.00 price target on NiSource and gave the stock a “buy” rating in a research note on Monday, September 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.45.

In other NiSource news, CFO Donald Eugene Brown sold 2,400 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $26.18, for a total transaction of $62,832.00. Following the transaction, the chief financial officer now directly owns 46,767 shares in the company, valued at approximately $1,224,360.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Shares of NI stock opened at $27.14 on Friday. NiSource Inc. has a 52-week low of $22.44 and a 52-week high of $28.11. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.40 and a quick ratio of 0.26. The company has a market cap of $9.91 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 3.80 and a beta of 0.14.

NiSource (NYSE:NI) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. NiSource had a positive return on equity of 9.30% and a negative net margin of 1.82%. The firm had revenue of $895.00 million during the quarter, compared to analyst estimates of $946.10 million. During the same period last year, the company earned $0.07 EPS. Research analysts expect that NiSource Inc. will post 1.29 EPS for the current year.

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NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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