PNC Financial Services Group Inc. Has $4.20 Million Stock Holdings in NiSource Inc. (NYSE:NI)

PNC Financial Services Group Inc. increased its position in NiSource Inc. (NYSE:NI - Free Report) by 21.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,201 shares of the utilities provider's stock after acquiring an additional 21,163 shares during the period. PNC Financial Services Group Inc.'s holdings in NiSource were worth $4,200,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC acquired a new position in NiSource during the 2nd quarter worth $25,000. Ashton Thomas Private Wealth LLC bought a new stake in NiSource during the second quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in shares of NiSource during the 3rd quarter valued at $33,000. Family Firm Inc. bought a new position in NiSource during the second quarter valued at about $43,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in NiSource in the 2nd quarter valued at about $47,000. 91.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NI. Wells Fargo & Company boosted their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Mizuho increased their price objective on NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. BMO Capital Markets lifted their target price on NiSource from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, September 12th. Evercore ISI upped their target price on NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, NiSource presently has an average rating of "Moderate Buy" and an average target price of $37.50.

NiSource Stock Up 0.6 %

NI traded up $0.24 on Monday, reaching $37.96. 4,209,572 shares of the company traded hands, compared to its average volume of 4,051,309. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 3.14 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. The stock's 50 day moving average price is $35.12 and its 200-day moving average price is $32.01. NiSource Inc. has a 52-week low of $24.80 and a 52-week high of $38.22.

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 for the quarter, topping analysts' consensus estimates of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $986.00 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect 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.