Metis Global Partners LLC Boosts Stake in NiSource Inc. (NYSE:NI)

Metis Global Partners LLC grew its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 231.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 46,702 shares of the utilities provider's stock after acquiring an additional 32,594 shares during the quarter. Metis Global Partners LLC's holdings in NiSource were worth $1,618,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource during the 2nd quarter worth $25,000. MCF Advisors LLC acquired a new stake in shares of NiSource in the 2nd quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of NiSource during the 3rd quarter valued at approximately $33,000. Crewe Advisors LLC acquired a new position in NiSource during the 1st quarter worth approximately $31,000. Finally, Friedenthal Financial bought a new position in NiSource in the 3rd quarter valued at approximately $50,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Price Performance

Shares of NI traded up $0.55 during midday trading on Friday, reaching $36.57. The stock had a trading volume of 9,191,559 shares, compared to its average volume of 3,586,923. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 3.04 and a beta of 0.51. The company's 50-day moving average is $34.67 and its 200 day moving average is $31.62. NiSource Inc. has a 12-month low of $24.80 and a 12-month high of $36.74. 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 announced its quarterly 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 for the quarter, compared to analyst estimates of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company's revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. On average, equities analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NI shares. Bank of America assumed coverage on shares of NiSource in a report on Thursday, September 12th. They set a "buy" rating and a $37.00 price target for the company. Barclays lifted their price target on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Mizuho raised their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, Evercore ISI raised their price target on shares of NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.