NiSource Inc. (NI) Holdings Cut by Neuberger Berman Group LLC
Neuberger Berman Group LLC lessened its stake in shares of NiSource Inc. (NYSE:NI) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,683,607 shares of the utilities provider’s stock after selling 23,512 shares during the period. Neuberger Berman Group LLC owned about 1.09% of NiSource worth $94,264,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. California Public Employees Retirement System raised its holdings in NiSource by 10.9% during the 3rd quarter. California Public Employees Retirement System now owns 684,649 shares of the utilities provider’s stock worth $17,520,000 after buying an additional 67,149 shares during the period. Tortoise Investment Management LLC acquired a new position in shares of NiSource in the 3rd quarter valued at about $113,000. Krilogy Financial LLC increased its holdings in shares of NiSource by 1,032.1% in the 3rd quarter. Krilogy Financial LLC now owns 9,872 shares of the utilities provider’s stock valued at $253,000 after purchasing an additional 9,000 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of NiSource in the 3rd quarter valued at about $114,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of NiSource in the 3rd quarter valued at about $1,749,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.
A number of brokerages have recently weighed in on NI. Citigroup upped their target price on NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, November 20th. KeyCorp reiterated a “buy” rating and issued a $29.50 target price on shares of NiSource in a report on Friday, September 1st. J P Morgan Chase & Co upped 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. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Credit Suisse Group upped 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. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. NiSource currently has a consensus rating of “Buy” and an average price target of $27.65.
Shares of NiSource Inc. (NI) traded up $0.03 during midday trading on Friday, hitting $26.51. The company had a trading volume of 6,003,365 shares, compared to its average volume of 2,905,463. The company has a market cap of $8,918.30, a PE ratio of 23.03, a price-to-earnings-growth ratio of 3.76 and a beta of 0.36. NiSource Inc. has a 1-year low of $21.65 and a 1-year high of $27.76. The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 1.72.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. NiSource had a return on equity of 8.97% and a net margin of 5.61%. During the same quarter in the previous year, the business posted $0.06 EPS. analysts predict that NiSource Inc. will post 1.2 EPS for the current fiscal year.
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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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