Contravisory Investment Management Inc. bought a new position in shares of NiSource Inc. (NYSE:NI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,388 shares of the utilities provider's stock, valued at approximately $566,000.
A number of other large investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource during the second quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new stake in NiSource in the 3rd quarter valued at $33,000. Legacy Investment Solutions LLC bought a new stake in NiSource during the 3rd quarter valued at $47,000. Friedenthal Financial acquired a new position in NiSource during the third quarter worth $50,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of NiSource in the second quarter valued at $47,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.
NiSource Stock Performance
NYSE:NI traded up $1.18 during trading on Thursday, reaching $38.09. The company's stock had a trading volume of 3,348,049 shares, compared to its average volume of 3,137,665. NiSource Inc. has a 12 month low of $24.80 and a 12 month high of $38.56. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.60 and a beta of 0.54. The firm has a 50 day moving average of $36.71 and a 200-day moving average of $34.10. 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 (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $986.00 million. During the same period in the previous year, the firm earned $0.19 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. Research analysts expect that NiSource Inc. will post 1.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Jefferies Financial Group started coverage on NiSource in a report on Monday, October 28th. They set a "buy" rating and a $39.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Mizuho lifted their target price on NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, NiSource has an average rating of "Moderate Buy" and a consensus target price of $37.50.
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NiSource Company Profile
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Free Report)
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.
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