Glenmede Trust Co. NA Lowers Position in NiSource Inc. (NYSE:NI)

Glenmede Trust Co. NA trimmed its stake in NiSource Inc. (NYSE:NI - Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 561,658 shares of the utilities provider's stock after selling 55,063 shares during the period. Glenmede Trust Co. NA owned 0.12% of NiSource worth $19,461,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC purchased a new stake in shares of NiSource during the first quarter valued at about $321,000. Bayesian Capital Management LP purchased a new stake in NiSource during the first quarter valued at approximately $487,000. California State Teachers Retirement System boosted its stake in NiSource by 3.5% in the first quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider's stock valued at $16,551,000 after acquiring an additional 20,060 shares in the last quarter. Tidal Investments LLC grew its holdings in NiSource by 5.4% in the first quarter. Tidal Investments LLC now owns 9,728 shares of the utilities provider's stock worth $269,000 after purchasing an additional 499 shares during the last quarter. Finally, Comerica Bank grew its holdings in NiSource by 57.6% in the first quarter. Comerica Bank now owns 115,176 shares of the utilities provider's stock worth $3,186,000 after purchasing an additional 42,104 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NI shares. JPMorgan Chase & Co. increased their price objective on NiSource from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Evercore ISI increased their price target on NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Mizuho boosted their price target on NiSource from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. BMO Capital Markets upped their price objective on shares of NiSource from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Finally, Barclays lifted their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.50.

NiSource Stock Performance

NYSE NI remained flat at $38.25 during trading hours on Thursday. The company had a trading volume of 2,431,593 shares, compared to its average volume of 4,034,731. NiSource Inc. has a 52-week low of $24.80 and a 52-week high of $38.56. The company's 50-day moving average is $35.28 and its two-hundred day moving average is $32.12. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The stock has a market cap of $17.85 billion, a PE ratio of 23.18, a P/E/G ratio of 3.16 and a beta of 0.51.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $986.00 million. During the same period in the prior year, the firm earned $0.19 EPS. The business's revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that NiSource Inc. will post 1.73 EPS for the current year.

NiSource Company 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.