Andra AP fonden Acquires 17,000 Shares of NiSource, Inc (NI)
Andra AP fonden boosted its holdings in NiSource, Inc (NYSE:NI) by 11.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,800 shares of the utilities provider’s stock after purchasing an additional 17,000 shares during the quarter. Andra AP fonden owned about 0.05% of NiSource worth $4,268,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in NI. Alliancebernstein L.P. lifted its stake in NiSource by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock valued at $274,689,000 after acquiring an additional 2,675,042 shares during the period. Lord Abbett & CO. LLC acquired a new stake in NiSource during the 2nd quarter valued at approximately $63,874,000. Ameriprise Financial Inc. lifted its stake in NiSource by 349.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock valued at $50,247,000 after acquiring an additional 1,540,050 shares during the period. Neuberger Berman Group LLC lifted its stake in NiSource by 59.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock valued at $94,013,000 after acquiring an additional 1,387,190 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in NiSource during the 2nd quarter valued at approximately $35,129,000. Institutional investors and hedge funds own 81.99% of the company’s stock.
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NiSource, Inc (NYSE:NI) opened at $27.47 on Wednesday. The company has a quick ratio of 0.32, a current ratio of 0.52 and a debt-to-equity ratio of 1.72. NiSource, Inc has a 12 month low of $21.17 and a 12 month high of $27.41. The stock has a market cap of $9,164.16, a price-to-earnings ratio of 23.66, a P/E/G ratio of 4.02 and a beta of 0.37.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $917.00 million during the quarter, compared to analyst estimates of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same quarter in the previous year, the firm earned $0.06 EPS. research analysts anticipate that NiSource, Inc will post 1.19 earnings per share for the current year.
In related news, Director Michael E. Jesanis purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $26.44 per share, with a total value of $52,880.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at $904,115.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.
Several brokerages have commented on NI. Wells Fargo & Company began coverage on shares of NiSource in a research note on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective for the company. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Credit Suisse Group lifted their price objective on shares of NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. J P Morgan Chase & Co lifted their price objective on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $23.00 target price on shares of NiSource in a research note on Friday, July 14th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.85.
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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