BNP Paribas Financial Markets Trims Stock Position in NiSource Inc. (NYSE:NI)

BNP Paribas Financial Markets decreased its position in NiSource Inc. (NYSE:NI - Free Report) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 693,022 shares of the utilities provider's stock after selling 52,860 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of NiSource worth $24,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NI. California State Teachers Retirement System raised its holdings in shares of NiSource by 3.5% in the first quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider's stock worth $16,551,000 after buying an additional 20,060 shares during the period. ING Groep NV bought a new stake in NiSource during the 3rd quarter valued at $748,000. Moran Wealth Management LLC purchased a new position in shares of NiSource during the third quarter valued at $3,068,000. Comerica Bank grew its holdings in NiSource by 57.6% during the 1st quarter. Comerica Bank now owns 115,176 shares of the utilities provider's stock worth $3,186,000 after acquiring an additional 42,104 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of NiSource by 8.4% in the 2nd quarter. TD Asset Management Inc now owns 1,865,926 shares of the utilities provider's stock worth $53,757,000 after purchasing an additional 144,197 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Down 0.4 %

Shares of NI traded down $0.16 during mid-day trading on Friday, hitting $38.09. 2,276,811 shares of the company traded hands, compared to its average volume of 4,027,122. The business has a 50 day moving average of $35.45 and a 200 day moving average of $32.23. The company has a market capitalization of $17.78 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.56.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $986.00 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that NiSource Inc. will post 1.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on NI shares. Wells Fargo & Company increased their target price on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. 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 note on Thursday, September 12th. Jefferies Financial Group started coverage on NiSource in a research note on Monday, October 28th. They issued a "buy" rating and a $39.00 target price on the stock. Bank of America began coverage on shares of NiSource in a research report on Thursday, September 12th. They set a "buy" rating and a $37.00 price target for the company. Finally, Mizuho raised their price target on shares of NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.50.

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.