Point72 Asia Singapore Pte. Ltd. Acquires Shares of 4,478 NiSource Inc. (NYSE:NI)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in NiSource Inc. (NYSE:NI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,478 shares of the utilities provider’s stock, valued at approximately $155,000.

A number of other hedge funds also recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of NiSource during the 3rd quarter worth approximately $187,000. Morton Community Bank increased its holdings in shares of NiSource by 0.8% during the 3rd quarter. Morton Community Bank now owns 113,105 shares of the utilities provider’s stock worth $3,919,000 after buying an additional 885 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of NiSource by 1.4% during the 3rd quarter. Verition Fund Management LLC now owns 2,471,361 shares of the utilities provider’s stock worth $85,633,000 after buying an additional 34,093 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of NiSource by 7.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 487,618 shares of the utilities provider’s stock worth $16,894,000 after buying an additional 35,618 shares during the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of NiSource by 1,412.3% during the 3rd quarter. Walleye Capital LLC now owns 18,193 shares of the utilities provider’s stock worth $630,000 after buying an additional 16,990 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analysts Set New Price Targets

NI has been the subject of a number of recent analyst reports. Mizuho raised their price target on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company lifted their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America started coverage on shares of NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price for the company. Finally, JPMorgan Chase & Co. lifted 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

NiSource Stock Performance

Shares of NI stock opened at $37.25 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.56. The stock has a market capitalization of $17.39 billion, a PE ratio of 22.58, a P/E/G ratio of 3.11 and a beta of 0.53. The firm has a 50 day moving average of $35.57 and a two-hundred day moving average of $32.39.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter last year, the company posted $0.19 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, research analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal year.

NiSource Profile

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.