Advisors Asset Management Inc. Reduces Holdings in NiSource Inc. (NYSE:NI)

Advisors Asset Management Inc. reduced its position in shares of NiSource Inc. (NYSE:NI - Free Report) by 10.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,259 shares of the utilities provider's stock after selling 13,499 shares during the quarter. Advisors Asset Management Inc.'s holdings in NiSource were worth $3,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in NiSource by 3.5% in the 1st quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider's stock worth $16,551,000 after purchasing an additional 20,060 shares in the last quarter. ING Groep NV purchased a new stake in shares of NiSource in the 3rd quarter worth about $748,000. Bayesian Capital Management LP purchased a new stake in shares of NiSource in the 1st quarter worth about $487,000. Comerica Bank grew its position in shares of NiSource by 57.6% in the 1st quarter. Comerica Bank now owns 115,176 shares of the utilities provider's stock worth $3,186,000 after buying an additional 42,104 shares during the period. Finally, TD Asset Management Inc grew its position in shares of NiSource by 8.4% in the 2nd quarter. TD Asset Management Inc now owns 1,865,926 shares of the utilities provider's stock worth $53,757,000 after buying an additional 144,197 shares during the period. 91.64% of the stock is currently owned by institutional investors.

NiSource Stock Performance

NYSE NI traded down $0.14 on Friday, reaching $37.71. 2,678,578 shares of the stock were exchanged, compared to its average volume of 4,174,931. NiSource Inc. has a one year low of $24.80 and a one year high of $38.07. The firm has a market capitalization of $17.60 billion, a PE ratio of 22.84, a PEG ratio of 3.15 and a beta of 0.51. The company's 50-day simple moving average is $35.04 and its two-hundred day simple moving average is $31.90. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. Analysts expect that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of NiSource in a research report on Monday, October 28th. They issued a "buy" rating and a $39.00 target price on the stock. Evercore ISI increased their price objective on shares of NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Wells Fargo & Company increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Barclays increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Finally, Bank of America started coverage on shares of NiSource in a research report on Thursday, September 12th. They set a "buy" rating and a $37.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, NiSource presently has a consensus rating of "Moderate Buy" and a consensus 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.