Icon Advisers Inc. Co. lowered its position in NiSource Inc. (NYSE:NI) by 48.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,300 shares of the utilities provider’s stock after selling 28,000 shares during the quarter. Icon Advisers Inc. Co.’s holdings in NiSource were worth $730,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of NiSource by 9.8% during the second quarter. Renaissance Technologies LLC now owns 1,528,100 shares of the utilities provider’s stock worth $40,158,000 after purchasing an additional 136,500 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of NiSource during the second quarter worth approximately $3,355,000. State Board of Administration of Florida Retirement System raised its stake in shares of NiSource by 0.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 492,916 shares of the utilities provider’s stock worth $12,954,000 after purchasing an additional 3,817 shares during the last quarter. US Bancorp DE raised its stake in shares of NiSource by 5.4% during the second quarter. US Bancorp DE now owns 62,592 shares of the utilities provider’s stock worth $1,645,000 after purchasing an additional 3,209 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of NiSource by 0.3% during the second quarter. Schroder Investment Management Group now owns 2,334,425 shares of the utilities provider’s stock worth $60,975,000 after purchasing an additional 5,885 shares during the last quarter. Institutional investors own 90.72% of the company’s stock.
Shares of NI stock opened at $26.16 on Friday. NiSource Inc. has a 1-year low of $22.44 and a 1-year high of $28.11. The firm has a market cap of $9.50 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 3.71 and a beta of 0.12. 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 announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.10 earnings per share 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 for the quarter, compared to analyst estimates of $946.10 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Equities analysts predict that NiSource Inc. will post 1.29 EPS for the current fiscal year.
NI has been the subject of several analyst reports. KeyCorp upped their price target on NiSource from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Evercore ISI cut NiSource from an “in-line” rating to an “underperform” rating in a research note on Friday, September 14th. TheStreet cut NiSource from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, Guggenheim lowered NiSource from a “buy” rating to a “neutral” rating in a report on Monday, September 10th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $27.27.
In related news, CFO Donald Eugene Brown sold 2,400 shares of the company’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 owns 46,767 shares of the company’s stock, valued at $1,224,360.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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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