88,530 Shares in NiSource Inc. (NYSE:NI) Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new stake in NiSource Inc. (NYSE:NI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 88,530 shares of the utilities provider's stock, valued at approximately $3,068,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in NiSource in the second quarter valued at about $25,000. MCF Advisors LLC acquired a new position in shares of NiSource during the second quarter worth about $25,000. Capital Performance Advisors LLP acquired a new position in shares of NiSource during the third quarter worth about $33,000. Crewe Advisors LLC acquired a new position in shares of NiSource during the first quarter worth about $31,000. Finally, Friedenthal Financial acquired a new position in shares of NiSource during the third quarter worth about $50,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NI shares. JPMorgan Chase & Co. upped their price objective on NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Mizuho upped their price objective on NiSource from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets upped their price objective on NiSource from $34.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, September 12th. Jefferies Financial Group began coverage on NiSource in a research report on Monday, October 28th. They set a "buy" rating and a $39.00 price target for the company. Finally, Bank of America began coverage on NiSource in a research report on Thursday, September 12th. They set a "buy" rating and a $37.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.50.

NiSource Stock Performance

NYSE:NI traded down $0.16 on Friday, hitting $37.69. The company's stock had a trading volume of 2,678,577 shares, compared to its average volume of 4,049,584. 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 fifty day moving average of $34.97 and a two-hundred day moving average of $31.84. The firm has a market capitalization of $17.59 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 3.09 and a beta of 0.51. NiSource Inc. has a one year low of $24.80 and a one year high of $38.07.

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 analyst estimates of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Research analysts predict that NiSource Inc. will post 1.73 earnings per share for the current 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.