Point72 Asset Management L.P. Trims Stake in NiSource Inc. (NYSE:NI)

Point72 Asset Management L.P. reduced its stake in NiSource Inc. (NYSE:NI - Free Report) by 52.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 954,640 shares of the utilities provider's stock after selling 1,057,950 shares during the period. Point72 Asset Management L.P. owned 0.20% of NiSource worth $33,078,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. QRG Capital Management Inc. grew its position in shares of NiSource by 2.1% during the 3rd quarter. QRG Capital Management Inc. now owns 15,334 shares of the utilities provider's stock worth $531,000 after purchasing an additional 309 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of NiSource by 12.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,442 shares of the utilities provider's stock valued at $119,000 after purchasing an additional 369 shares in the last quarter. Empirical Finance LLC lifted its position in shares of NiSource by 3.2% during the 3rd quarter. Empirical Finance LLC now owns 13,926 shares of the utilities provider's stock worth $483,000 after buying an additional 428 shares during the last quarter. Aurora Investment Counsel raised its stake in NiSource by 0.7% during the second quarter. Aurora Investment Counsel now owns 62,589 shares of the utilities provider's stock worth $1,803,000 after acquiring an additional 450 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of NiSource by 5.2% in the third quarter. Atria Investments Inc now owns 9,444 shares of the utilities provider's stock worth $327,000 after acquiring an additional 465 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Stock Down 0.5 %

NI traded down $0.20 during trading on Friday, hitting $37.08. 3,823,434 shares of the company's stock were exchanged, compared to its average volume of 4,023,832. The stock has a market cap of $17.31 billion, a P/E ratio of 22.47, a PEG ratio of 3.08 and a beta of 0.53. The business's 50 day moving average is $35.69 and its two-hundred day moving average is $32.45. NiSource Inc. has a fifty-two week low of $24.80 and a fifty-two week 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.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $986.00 million. During the same quarter in the previous year, the business earned $0.19 EPS. The company's quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts expect that NiSource Inc. will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on NiSource from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Barclays 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 Monday, October 21st. Finally, BMO Capital Markets lifted their price target on shares of NiSource from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.