NiSource Inc. (NYSE:NI) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its holdings in shares of NiSource Inc. (NYSE:NI) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 208,877 shares of the utilities provider’s stock after buying an additional 3,306 shares during the period. Wedge Capital Management L L P NC’s holdings in NiSource were worth $7,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ING Groep NV purchased a new stake in shares of NiSource during the third quarter worth $748,000. Thomasville National Bank increased its holdings in NiSource by 3.0% during the 4th quarter. Thomasville National Bank now owns 567,196 shares of the utilities provider’s stock worth $20,850,000 after purchasing an additional 16,364 shares during the period. JPMorgan Chase & Co. raised its position in NiSource by 88.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after purchasing an additional 6,991,608 shares in the last quarter. Assenagon Asset Management S.A. raised its position in NiSource by 21.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,712,724 shares of the utilities provider’s stock valued at $99,720,000 after purchasing an additional 483,491 shares in the last quarter. Finally, Moran Wealth Management LLC purchased a new position in shares of NiSource in the 3rd quarter valued at about $3,068,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Up 0.3 %

NiSource stock opened at $38.13 on Friday. The company has a market capitalization of $17.80 billion, a P/E ratio of 23.11, a PEG ratio of 2.60 and a beta of 0.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. NiSource Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $38.56. The stock has a 50-day simple moving average of $36.82 and a 200-day simple moving average of $34.23.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NI. JPMorgan Chase & Co. raised 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. Jefferies Financial Group started coverage on shares of NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price objective on the stock. Mizuho boosted their target price on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays lifted their price target on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, NiSource has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.