Engineers Gate Manager LP lifted its position in NiSource, Inc (NYSE:NI) by 121.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,583 shares of the utilities provider’s stock after buying an additional 61,187 shares during the period. Engineers Gate Manager LP’s holdings in NiSource were worth $2,855,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. First Quadrant L P CA purchased a new position in shares of NiSource in the 3rd quarter worth approximately $114,000. Advisory Services Network LLC grew its position in shares of NiSource by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after buying an additional 200 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in shares of NiSource by 0.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after buying an additional 24 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new position in shares of NiSource in the 2nd quarter worth approximately $202,000. Finally, Conning Inc. purchased a new position in shares of NiSource in the 2nd quarter worth approximately $206,000. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
NiSource, Inc (NI) traded up $0.20 during mid-day trading on Thursday, reaching $27.00. 1,946,000 shares of the company were exchanged, compared to its average volume of 2,528,047. The firm has a market cap of $9,026.07, a PE ratio of 23.30, a PEG ratio of 3.96 and a beta of 0.36. The company has a quick ratio of 0.32, a current ratio of 0.52 and a debt-to-equity ratio of 1.72. NiSource, Inc has a one year low of $21.31 and a one year high of $27.76.
NiSource (NYSE:NI) last announced 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 net margin of 5.61% and a return on equity of 8.97%. The business had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. During the same period in the previous year, the business posted $0.06 EPS. sell-side analysts anticipate that NiSource, Inc will post 1.19 earnings per share for the current year.
A number of analysts recently commented on NI shares. Wells Fargo & Company started coverage on shares of NiSource in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 target price for the company. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $25.00 to $29.00 in a research note on Monday, August 14th. KeyCorp reiterated a “buy” rating and issued a $29.50 target price on shares of NiSource in a research note on Friday, September 1st. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, J P Morgan Chase & Co lifted their target price on shares of NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.23.
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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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