HITE Hedge Asset Management LLC Sells 858,009 Shares of NiSource Inc. (NYSE:NI)

HITE Hedge Asset Management LLC lowered its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 53.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 759,910 shares of the utilities provider's stock after selling 858,009 shares during the period. NiSource makes up approximately 3.0% of HITE Hedge Asset Management LLC's portfolio, making the stock its 10th biggest holding. HITE Hedge Asset Management LLC owned about 0.16% of NiSource worth $26,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC bought a new position in shares of NiSource in the second quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of NiSource during the 2nd quarter valued at $25,000. Capital Performance Advisors LLP purchased a new position in shares of NiSource in the third quarter worth about $33,000. Family Firm Inc. purchased a new stake in shares of NiSource during the second quarter valued at approximately $43,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in NiSource in the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Stock Performance

Shares of NYSE NI traded down $0.30 during midday trading on Tuesday, reaching $37.06. 3,655,919 shares of the stock were exchanged, compared to its average volume of 4,022,671. NiSource Inc. has a twelve month low of $24.80 and a twelve month high of $38.56. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a 50-day simple moving average of $35.51 and a two-hundred day simple moving average of $32.33. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.11 and a beta of 0.53.

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 analysts' consensus estimates of $0.15 by $0.05. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $986.00 million. During the same quarter in the prior year, the firm earned $0.19 EPS. NiSource's quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on NI shares. Jefferies Financial Group began coverage on shares of NiSource in a report on Monday, October 28th. They issued a "buy" rating and a $39.00 price objective for the company. Barclays boosted their price target on NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on shares of NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Mizuho boosted their target price on shares of NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

About NiSource

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.