IFM Investors Pty Ltd Boosts Stock Position in NiSource Inc. (NYSE:NI)

IFM Investors Pty Ltd raised its stake in shares of NiSource Inc. (NYSE:NI) by 36.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,885 shares of the utilities provider’s stock after acquiring an additional 10,836 shares during the period. IFM Investors Pty Ltd’s holdings in NiSource were worth $1,223,000 as of its most recent SEC filing.

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A number of other institutional investors and hedge funds also recently bought and sold shares of NI. Carroll Financial Associates Inc. raised its stake in shares of NiSource by 2.9% during the 2nd quarter. Carroll Financial Associates Inc. now owns 12,053 shares of the utilities provider’s stock worth $347,000 after buying an additional 343 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of NiSource by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 173,997 shares of the utilities provider’s stock worth $5,011,000 after buying an additional 546 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of NiSource by 10.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,940 shares of the utilities provider’s stock worth $142,000 after buying an additional 476 shares in the last quarter. Jackson Wealth Management LLC raised its stake in shares of NiSource by 8.7% during the 2nd quarter. Jackson Wealth Management LLC now owns 21,807 shares of the utilities provider’s stock worth $642,000 after buying an additional 1,749 shares in the last quarter. Finally, 6 Meridian raised its stake in shares of NiSource by 2.1% during the 2nd quarter. 6 Meridian now owns 18,265 shares of the utilities provider’s stock worth $526,000 after buying an additional 382 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Michael E. Jesanis sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $29.01, for a total value of $174,060.00. Following the completion of the transaction, the director now directly owns 32,997 shares of the company’s stock, valued at approximately $957,242.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Barclays raised NiSource from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $32.00 to $31.00 in a research note on Thursday, October 31st. Credit Suisse Group set a $29.00 target price on NiSource and gave the stock a “hold” rating in a research note on Friday, November 1st. Wolfe Research downgraded NiSource from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. ValuEngine downgraded NiSource from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Argus raised NiSource from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.11.

NYSE NI traded down $0.27 during mid-day trading on Friday, hitting $26.41. The stock had a trading volume of 3,542,943 shares, compared to its average volume of 2,949,843. NiSource Inc. has a 52-week low of $24.36 and a 52-week high of $30.67. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 3.94 and a beta of 0.22. The company has a 50 day simple moving average of $28.61 and a 200 day simple moving average of $28.76. The company has a quick ratio of 0.28, a current ratio of 0.41 and a debt-to-equity ratio of 1.58.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.04). NiSource had a net margin of 9.70% and a return on equity of 9.70%. The firm had revenue of $931.50 million during the quarter, compared to analysts’ expectations of $939.83 million. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, equities analysts anticipate that NiSource Inc. will post 1.3 earnings per share for the current fiscal year.

NiSource Company Profile

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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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