Illinois Municipal Retirement Fund lifted its position in NiSource, Inc (NYSE:NI – Free Report) by 34.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,788 shares of the utilities provider’s stock after buying an additional 65,317 shares during the period. Illinois Municipal Retirement Fund’s holdings in NiSource were worth $9,898,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Compass Financial Management LLC bought a new position in NiSource during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new position in NiSource in the second quarter valued at about $33,000. Western Wealth Management LLC bought a new stake in shares of NiSource in the first quarter worth about $34,000. Caldwell Trust Co raised its position in shares of NiSource by 46.6% during the third quarter. Caldwell Trust Co now owns 871 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 277 shares during the period. Finally, Fiduciary Financial Advisors bought a new position in shares of NiSource during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 91.64% of the company’s stock.
Insider Activity
In other news, CFO Shawn Anderson sold 6,500 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $45.58, for a total value of $296,270.00. Following the sale, the chief financial officer owned 153,580 shares of the company’s stock, valued at $7,000,176.40. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.37% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Scotiabank began coverage on NiSource in a research report on Tuesday, September 29th. They issued a “sector perform” rating and a $43.00 price objective for the company. KeyCorp lowered their target price on NiSource from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Mizuho dropped their price objective on shares of NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, August 26th. Ladenburg Thalmann & Co. Inc. reduced their target price on shares of NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Finally, JPMorgan Chase & Co. lowered their target price on NiSource from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, October 20th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.
View Our Latest Research Report on NiSource
NiSource Stock Up 0.7%
Shares of NiSource stock opened at $45.88 on Friday. The firm has a market cap of $22.01 billion, a PE ratio of 23.53, a P/E/G ratio of 3.38 and a beta of 0.53. The business’s 50 day simple moving average is $41.96 and its 200 day simple moving average is $44.90. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.38 and a current ratio of 0.50. NiSource, Inc has a 52-week low of $38.42 and a 52-week high of $49.21.
NiSource (NYSE:NI – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. NiSource had a return on equity of 8.16% and a net margin of 13.56%. During the same quarter in the prior year, the firm posted $0.19 EPS. On average, analysts predict that NiSource, Inc will post 2.06 earnings per share for the current fiscal year.
NiSource Profile
NiSource Inc. is a regulated energy holding company that delivers natural gas and electricity through its local utility subsidiaries. Its businesses focus on operating and maintaining energy infrastructure and providing service to residential, commercial and industrial customers. The company’s natural gas utilities serve customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana.
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