American International Group Inc. boosted its position in shares of NiSource Inc. (NYSE:NI) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,321 shares of the utilities provider’s stock after acquiring an additional 16,608 shares during the period. American International Group Inc.’s holdings in NiSource were worth $4,469,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of NiSource by 4.5% during the third quarter. BlackRock Inc. now owns 31,345,277 shares of the utilities provider’s stock valued at $781,123,000 after buying an additional 1,360,780 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of NiSource by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 12,869,201 shares of the utilities provider’s stock valued at $320,701,000 after buying an additional 3,317,125 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of NiSource by 10.5% during the third quarter. Alliancebernstein L.P. now owns 9,581,303 shares of the utilities provider’s stock valued at $238,766,000 after buying an additional 913,237 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of NiSource by 26.0% during the second quarter. Commonwealth Bank of Australia now owns 4,515,170 shares of the utilities provider’s stock valued at $118,421,000 after buying an additional 930,870 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of NiSource by 2.7% during the second quarter. Northern Trust Corp now owns 4,078,070 shares of the utilities provider’s stock valued at $107,171,000 after buying an additional 105,533 shares during the last quarter. 91.20% of the stock is owned by hedge funds and other institutional investors.
NYSE NI opened at $27.14 on Friday. The stock has a market capitalization of $10.02 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 3.84 and a beta of 0.14. NiSource Inc. has a twelve month low of $22.44 and a twelve month high of $28.11. The company has a current ratio of 0.40, a quick ratio of 0.26 and a debt-to-equity ratio of 1.52.
NiSource (NYSE:NI) last posted its earnings results on Thursday, November 1st. The utilities provider reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The business had revenue of $895.00 million for the quarter, compared to analysts’ expectations of $946.10 million. NiSource had a negative net margin of 1.82% and a positive return on equity of 9.30%. During the same quarter in the previous year, the firm posted $0.07 earnings per share. As a group, research analysts anticipate that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
A number of brokerages have recently commented on NI. Barclays cut their price objective on shares of NiSource from $27.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, October 16th. Goldman Sachs Group lowered shares of NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 price objective for the company. in a research report on Friday, September 21st. Citigroup upped their price objective on shares of NiSource from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, November 29th. KeyCorp cut their price objective on shares of NiSource from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, October 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $28.00 price objective on shares of NiSource in a research report on Monday, September 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. NiSource currently has an average rating of “Hold” and a consensus target price of $27.45.
In related news, CFO Donald Eugene Brown sold 2,400 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $26.18, for a total value of $62,832.00. Following the sale, the chief financial officer now owns 46,767 shares of the company’s stock, valued at $1,224,360.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.
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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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