NiSource Inc. (NYSE:NI) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in shares of NiSource Inc. (NYSE:NI - Free Report) by 34.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 206,241 shares of the utilities provider's stock after selling 108,834 shares during the quarter. Intech Investment Management LLC's holdings in NiSource were worth $7,146,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of NiSource during the 3rd quarter worth about $32,162,000. Moran Wealth Management LLC purchased a new stake in shares of NiSource in the 3rd quarter valued at about $3,068,000. Jennison Associates LLC lifted its holdings in shares of NiSource by 3.0% in the 3rd quarter. Jennison Associates LLC now owns 10,823,095 shares of the utilities provider's stock valued at $375,020,000 after purchasing an additional 316,225 shares during the last quarter. Commerce Bank lifted its holdings in shares of NiSource by 10.0% in the 3rd quarter. Commerce Bank now owns 11,012 shares of the utilities provider's stock valued at $382,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Premier Fund Managers Ltd purchased a new stake in shares of NiSource in the 3rd quarter valued at about $3,180,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NI shares. BMO Capital Markets boosted their target price on NiSource from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Barclays boosted their target price on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Mizuho boosted their target price on NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on NiSource from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group assumed coverage on NiSource in a research note on Monday, October 28th. They set a "buy" rating and a $39.00 price objective for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, NiSource currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.50.

NiSource Stock Performance

Shares of NI stock traded down $0.16 during trading hours on Friday, reaching $37.69. 2,678,577 shares of the company's stock were exchanged, compared to its average volume of 4,049,584. The company has a market cap of $17.59 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 3.09 and a beta of 0.51. The company's 50 day moving average is $35.04 and its two-hundred day moving average is $31.90. NiSource Inc. has a 1 year low of $24.80 and a 1 year high of $38.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35.

NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. Equities research analysts anticipate 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.