Toronto Dominion Bank Decreases Position in NiSource Inc. (NYSE:NI)

Toronto Dominion Bank lessened its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 13.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,823 shares of the utilities provider's stock after selling 29,775 shares during the period. Toronto Dominion Bank's holdings in NiSource were worth $6,855,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages recently commented on NI. Jefferies Financial Group started coverage on shares of NiSource in a research note on Monday, October 28th. They set a "buy" rating and a $39.00 price target on the stock. BMO Capital Markets lifted their price target on NiSource from $34.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Bank of America assumed coverage on NiSource in a report on Thursday, September 12th. They set a "buy" rating and a $37.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, NiSource currently has a consensus rating of "Moderate Buy" and an average target price of $37.50.

NiSource Price Performance

Shares of NYSE NI traded up $0.02 during midday trading on Friday, hitting $36.55. 2,556,943 shares of the company's stock were exchanged, compared to its average volume of 4,034,476. The business's fifty day moving average price is $35.94 and its two-hundred day moving average price is $32.86. The company has a market cap of $17.06 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 3.06 and a beta of 0.53. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. NiSource Inc. has a 12-month low of $24.80 and a 12-month high of $38.56.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, topping 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that NiSource Inc. will post 1.73 EPS for the current fiscal year.

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.