American International Group Inc. trimmed its position in shares of NiSource Inc. (NYSE:NI) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,833 shares of the utilities provider’s stock after selling 17,532 shares during the period. American International Group Inc.’s holdings in NiSource were worth $3,783,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. ING Groep NV boosted its holdings in NiSource by 70.0% in the third quarter. ING Groep NV now owns 28,162 shares of the utilities provider’s stock worth $721,000 after purchasing an additional 11,599 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NiSource by 80.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 108,199 shares of the utilities provider’s stock valued at $2,769,000 after purchasing an additional 48,165 shares during the period. Pacer Advisors Inc. raised its position in shares of NiSource by 13.5% during the 3rd quarter. Pacer Advisors Inc. now owns 54,334 shares of the utilities provider’s stock valued at $1,390,000 after purchasing an additional 6,443 shares during the period. Stephens Inc. AR raised its position in shares of NiSource by 20.1% during the 3rd quarter. Stephens Inc. AR now owns 14,158 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 2,370 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of NiSource during the 3rd quarter valued at $1,008,000. 82.24% of the stock is owned by hedge funds and other institutional investors.
NiSource Inc. (NI) traded up $0.03 during trading hours on Friday, reaching $26.51. 6,003,365 shares of the company’s stock were exchanged, compared to its average volume of 2,905,463. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32. The firm has a market capitalization of $8,918.30, a PE ratio of 23.03, a PEG ratio of 3.76 and a beta of 0.36. NiSource Inc. has a 52 week low of $21.65 and a 52 week high of $27.76.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, meeting the Zacks’ 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 prior year, the business earned $0.06 earnings per share. equities research analysts predict that NiSource Inc. will post 1.2 earnings per share for the current year.
NI has been the subject of several research analyst reports. KeyCorp reaffirmed a “buy” rating and set a $29.50 target price on shares of NiSource in a research note on Friday, October 20th. J P Morgan Chase & Co lifted their price target 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. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Friday, September 22nd. Credit Suisse Group boosted their price target on shares of NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, Citigroup boosted their price target on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, November 20th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $27.65.
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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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