67,854 Shares in NiSource Inc. (NYSE:NI) Acquired by Empowered Funds LLC

Empowered Funds LLC purchased a new position in NiSource Inc. (NYSE:NIGet Rating) during the third quarter, HoldingsChannel reports. The fund purchased 67,854 shares of the utilities provider’s stock, valued at approximately $1,709,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. National Bank of Canada FI grew its holdings in NiSource by 16,086.4% during the 3rd quarter. National Bank of Canada FI now owns 6,135,942 shares of the utilities provider’s stock valued at $154,592,000 after buying an additional 6,098,034 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of NiSource by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 52,613,623 shares of the utilities provider’s stock worth $1,673,113,000 after purchasing an additional 5,153,843 shares during the period. SG Americas Securities LLC lifted its stake in shares of NiSource by 1,654.0% during the 2nd quarter. SG Americas Securities LLC now owns 3,244,069 shares of the utilities provider’s stock worth $95,668,000 after purchasing an additional 3,059,120 shares during the period. Natixis lifted its stake in shares of NiSource by 388.7% during the 2nd quarter. Natixis now owns 3,797,098 shares of the utilities provider’s stock worth $112,042,000 after purchasing an additional 3,020,058 shares during the period. Finally, State Street Corp lifted its stake in shares of NiSource by 8.9% during the 1st quarter. State Street Corp now owns 24,192,844 shares of the utilities provider’s stock worth $769,332,000 after purchasing an additional 1,970,696 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NI. Evercore ISI reduced their price target on NiSource to $27.00 in a research note on Tuesday, November 15th. StockNews.com started coverage on NiSource in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group raised NiSource from a “neutral” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Wednesday, November 9th. Guggenheim cut their target price on NiSource from $32.00 to $27.00 in a research report on Monday, October 24th. Finally, Wells Fargo & Company increased their target price on NiSource to $31.00 in a research report on Wednesday, December 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

NiSource Stock Up 0.8 %

Shares of NiSource stock opened at $27.32 on Wednesday. The business has a 50-day moving average of $27.39 and a 200-day moving average of $27.80. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.57 and a quick ratio of 0.37. The company has a market capitalization of $11.10 billion, a PE ratio of 17.74, a P/E/G ratio of 2.57 and a beta of 0.46. NiSource Inc. has a 1-year low of $23.78 and a 1-year high of $32.58.

NiSource (NYSE:NIGet Rating) last announced its earnings results on Monday, November 7th. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $996.60 million. NiSource had a net margin of 12.81% and a return on equity of 10.27%. As a group, equities analysts forecast that NiSource Inc. will post 1.45 EPS for the current fiscal year.

NiSource Company Profile

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NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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