Barings LLC Raises Holdings in NiSource, Inc (NI)
Barings LLC grew its stake in shares of NiSource, Inc (NYSE:NI) by 190.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 33,075 shares of the utilities provider’s stock after acquiring an additional 21,700 shares during the period. Barings LLC’s holdings in NiSource were worth $846,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Commonwealth Bank of Australia lifted its position in shares of NiSource by 3.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 3,350,014 shares of the utilities provider’s stock valued at $85,422,000 after acquiring an additional 102,242 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of NiSource during the 3rd quarter valued at $3,261,000. Wells Fargo & Company MN lifted its position in shares of NiSource by 4.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,112,057 shares of the utilities provider’s stock valued at $28,458,000 after acquiring an additional 51,228 shares during the last quarter. Cadence Capital Management LLC lifted its holdings in shares of NiSource by 49.2% in the third quarter. Cadence Capital Management LLC now owns 15,395 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 5,074 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of NiSource by 10.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,502 shares of the utilities provider’s stock valued at $678,000 after purchasing an additional 2,472 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.
NiSource, Inc (NYSE NI) traded down $0.30 on Tuesday, hitting $27.03. The stock had a trading volume of 2,093,800 shares, compared to its average volume of 2,533,593. The stock has a market capitalization of $9,100.00, a price-to-earnings ratio of 23.76, a P/E/G ratio of 4.04 and a beta of 0.42. NiSource, Inc has a one year low of $21.31 and a one year high of $27.76. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. NiSource had a return on equity of 8.97% and a net margin of 5.61%. The business had revenue of $917.00 million during the quarter, compared to analyst estimates of $901.00 million. During the same period last year, the company earned $0.06 earnings per share. equities analysts expect that NiSource, Inc will post 1.19 earnings per share for the current year.
A number of research firms have recently issued reports on NI. Wells Fargo & Company began coverage on NiSource in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Credit Suisse Group increased their target price on NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. J P Morgan Chase & Co increased their target price on NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Finally, KeyCorp restated a “buy” rating and issued a $29.50 target price on shares of NiSource in a report on Friday, October 20th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. NiSource presently has a consensus rating of “Buy” and an average target price of $27.23.
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NiSource Company Profile
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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