IFM Investors Pty Ltd increased its stake in shares of NiSource Inc. (NYSE:NI) by 36.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,885 shares of the utilities provider’s stock after buying an additional 10,836 shares during the quarter. IFM Investors Pty Ltd’s holdings in NiSource were worth $1,223,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in NI. Panagora Asset Management Inc. raised its position in NiSource by 18.6% in the second quarter. Panagora Asset Management Inc. now owns 141,516 shares of the utilities provider’s stock valued at $4,076,000 after purchasing an additional 22,155 shares during the period. Marshall Wace North America L.P. purchased a new stake in NiSource in the second quarter valued at $947,000. Tiverton Asset Management LLC raised its position in NiSource by 19.5% in the second quarter. Tiverton Asset Management LLC now owns 66,175 shares of the utilities provider’s stock valued at $1,906,000 after purchasing an additional 10,779 shares during the period. Jackson Wealth Management LLC raised its position in NiSource by 8.7% in the second quarter. Jackson Wealth Management LLC now owns 21,807 shares of the utilities provider’s stock valued at $642,000 after purchasing an additional 1,749 shares during the period. Finally, World Asset Management Inc raised its position in NiSource by 1.9% in the third quarter. World Asset Management Inc now owns 24,347 shares of the utilities provider’s stock valued at $728,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.
In related news, Director Michael E. Jesanis sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $29.01, for a total transaction of $174,060.00. Following the completion of the transaction, the director now directly owns 32,997 shares of the company’s stock, valued at approximately $957,242.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.
Several equities research analysts recently issued reports on NI shares. ValuEngine downgraded NiSource from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Argus upgraded NiSource from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, July 24th. Barclays upgraded NiSource from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $32.00 to $31.00 in a report on Thursday, October 31st. Credit Suisse Group set a $29.00 price objective on NiSource and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Wolfe Research downgraded NiSource from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $29.11.
Shares of NI stock traded down $0.27 on Friday, hitting $26.41. The stock had a trading volume of 3,542,943 shares, compared to its average volume of 2,949,843. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.41 and a quick ratio of 0.28. The firm has a market capitalization of $10.06 billion, a P/E ratio of 20.32, a P/E/G ratio of 3.94 and a beta of 0.22. NiSource Inc. has a 1 year low of $24.36 and a 1 year high of $30.67. The company’s 50 day moving average price is $28.61 and its 200-day moving average price is $28.76.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.04). The firm had revenue of $931.50 million during the quarter, compared to analysts’ expectations of $939.83 million. NiSource had a net margin of 9.70% and a return on equity of 9.70%. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities analysts forecast that NiSource Inc. will post 1.3 EPS for the current year.
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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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