Reaves W H & Co. Inc. grew its stake in shares of NiSource Inc. (NYSE:NI) by 19.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,419,943 shares of the utilities provider’s stock after buying an additional 398,781 shares during the period. NiSource makes up 2.0% of Reaves W H & Co. Inc.’s portfolio, making the stock its 19th biggest position. Reaves W H & Co. Inc. owned approximately 0.67% of NiSource worth $60,305,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of NI. JPMorgan Chase & Co. boosted its holdings in NiSource by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 12,869,201 shares of the utilities provider’s stock worth $320,701,000 after buying an additional 3,317,125 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NiSource by 55.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,331,017 shares of the utilities provider’s stock worth $113,819,000 after purchasing an additional 1,553,750 shares during the period. Millennium Management LLC raised its position in shares of NiSource by 159.2% during the second quarter. Millennium Management LLC now owns 1,595,126 shares of the utilities provider’s stock worth $41,920,000 after purchasing an additional 979,679 shares during the period. Commonwealth Bank of Australia raised its position in shares of NiSource by 26.0% during the second quarter. Commonwealth Bank of Australia now owns 4,515,170 shares of the utilities provider’s stock worth $118,421,000 after purchasing an additional 930,870 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of NiSource by 516.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 955,000 shares of the utilities provider’s stock worth $23,799,000 after purchasing an additional 800,000 shares during the period. Hedge funds and other institutional investors own 90.04% of the company’s stock.
In related news, CFO Donald Eugene Brown sold 2,400 shares of NiSource stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $26.18, for a total value of $62,832.00. Following the sale, 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 can be accessed through this link. 0.37% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on the company. Guggenheim lowered NiSource from a “buy” rating to a “neutral” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. KeyCorp raised their price target on NiSource from $26.00 to $27.00 and gave the stock a “$26.15” rating in a research report on Thursday, July 19th. Evercore ISI raised NiSource to an “underperform” rating in a research report on Monday, November 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $28.00 price target on shares of NiSource in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.27.
NYSE NI opened at $25.96 on Wednesday. The stock has a market cap of $9.48 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 3.70 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 Inc. has a one year low of $22.44 and a one year high of $28.11.
NiSource (NYSE:NI) last released its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.10 EPS 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 company had revenue of $895.00 million for the quarter, compared to analyst estimates of $946.10 million. During the same quarter last year, the firm posted $0.07 earnings per share. Research analysts anticipate that NiSource Inc. will post 1.29 earnings per share for the current fiscal year.
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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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