Hsbc Holdings PLC Has $6.15 Million Stake in NiSource Inc. (NI)

Hsbc Holdings PLC cut its stake in NiSource Inc. (NYSE:NI) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 246,899 shares of the utilities provider’s stock after selling 31,749 shares during the quarter. Hsbc Holdings PLC’s holdings in NiSource were worth $6,152,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in NiSource by 9.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,528,100 shares of the utilities provider’s stock worth $40,158,000 after acquiring an additional 136,500 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in NiSource during the 2nd quarter worth about $3,355,000. Schroder Investment Management Group lifted its position in NiSource by 0.3% during the 2nd quarter. Schroder Investment Management Group now owns 2,334,425 shares of the utilities provider’s stock worth $60,975,000 after acquiring an additional 5,885 shares during the period. State Board of Administration of Florida Retirement System lifted its position in NiSource by 0.8% during the 2nd 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 acquiring an additional 3,817 shares during the period. Finally, US Bancorp DE lifted its position in NiSource by 5.4% during the 2nd quarter. US Bancorp DE now owns 62,592 shares of the utilities provider’s stock worth $1,645,000 after acquiring an additional 3,209 shares during the period. Institutional investors and hedge funds own 91.20% of the company’s stock.

NI has been the subject of a number of research reports. Mizuho cut NiSource from a “buy” rating to a “neutral” rating in a research report on Friday, October 19th. TheStreet cut NiSource from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. lowered their price target on NiSource from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. ValuEngine cut NiSource from a “hold” rating to a “sell” rating in a research report on Friday, September 14th. Finally, Bank of America lowered their price target on NiSource from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $27.45.

Shares of NI stock opened at $27.14 on Friday. The stock has a market capitalization of $9.91 billion, a PE ratio of 21.11, a P/E/G ratio of 3.80 and a beta of 0.14. The company has a quick ratio of 0.26, a current ratio of 0.40 and a debt-to-equity ratio of 1.52. NiSource Inc. has a 52-week low of $22.44 and a 52-week high of $28.11.

NiSource (NYSE:NI) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The business had revenue of $895.00 million during the quarter, compared to analysts’ expectations of $946.10 million. NiSource had a positive return on equity of 9.30% and a negative net margin of 1.82%. During the same quarter in the previous year, the firm posted $0.07 EPS. As a group, equities research analysts expect that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.

In other news, CFO Donald Eugene Brown sold 2,400 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $26.18, for a total value of $62,832.00. Following the completion of the transaction, the chief financial officer now owns 46,767 shares of the company’s stock, valued at approximately $1,224,360.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

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About NiSource

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.

Further Reading: Closed-End Mutual Funds (CEFs)

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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