Glenmede Trust Co. NA Sells 55,063 Shares of NiSource Inc. (NYSE:NI)

Glenmede Trust Co. NA lessened its stake in shares of NiSource Inc. (NYSE:NI) by 8.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 561,658 shares of the utilities provider’s stock after selling 55,063 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.12% of NiSource worth $19,461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NI. Bank of Montreal Can grew its stake in shares of NiSource by 53.3% during the third quarter. Bank of Montreal Can now owns 5,124,909 shares of the utilities provider’s stock worth $176,194,000 after buying an additional 1,782,078 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of NiSource in the third quarter worth $32,162,000. AQR Capital Management LLC grew its stake in shares of NiSource by 118.4% in the second quarter. AQR Capital Management LLC now owns 1,616,189 shares of the utilities provider’s stock worth $46,449,000 after purchasing an additional 876,033 shares during the last quarter. CWM LLC grew its stake in shares of NiSource by 5,767.3% in the second quarter. CWM LLC now owns 827,880 shares of the utilities provider’s stock worth $23,851,000 after purchasing an additional 813,770 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new stake in shares of NiSource in the second quarter worth $22,056,000. Institutional investors own 91.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NI. BMO Capital Markets boosted their price objective on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company upped their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America started coverage on shares of NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Mizuho boosted their target price on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Price Performance

Shares of NYSE NI opened at $38.25 on Thursday. The firm’s 50-day moving average price is $35.20 and its 200-day moving average price is $32.08. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.56. The firm has a market capitalization of $17.85 billion, a P/E ratio of 23.18, a P/E/G ratio of 3.16 and a beta of 0.51. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that NiSource Inc. will post 1.73 earnings per share for the current fiscal year.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.