UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in NiSource Inc. (NYSE:NI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NiSource Inc. (NYSE:NI - Free Report) by 23.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,586,789 shares of the utilities provider's stock after buying an additional 495,738 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.55% of NiSource worth $89,632,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. ING Groep NV purchased a new stake in shares of NiSource in the third quarter worth about $748,000. Moran Wealth Management LLC bought a new position in NiSource during the 3rd quarter worth approximately $3,068,000. Comerica Bank raised its holdings in NiSource by 57.6% during the 1st quarter. Comerica Bank now owns 115,176 shares of the utilities provider's stock valued at $3,186,000 after buying an additional 42,104 shares during the last quarter. TD Asset Management Inc boosted its position in NiSource by 8.4% during the 2nd quarter. TD Asset Management Inc now owns 1,865,926 shares of the utilities provider's stock valued at $53,757,000 after buying an additional 144,197 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in NiSource in the 3rd quarter worth $798,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Stock Down 0.8 %

Shares of NYSE NI traded down $0.30 during midday trading on Tuesday, hitting $37.06. The stock had a trading volume of 3,655,919 shares, compared to its average volume of 4,022,671. 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 52 week low of $24.80 and a 52 week high of $38.56. The company has a market cap of $17.30 billion, a P/E ratio of 22.46, a PEG ratio of 3.11 and a beta of 0.53. The business's 50 day moving average is $35.51 and its 200-day moving average is $32.33.

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America began coverage on NiSource in a research report on Thursday, September 12th. They set a "buy" rating and a $37.00 price target for the company. Evercore ISI raised their price target on NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on shares of NiSource in a research report on Monday, October 28th. They set a "buy" rating and a $39.00 price objective on the stock. Mizuho lifted their target price on shares of NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Barclays increased their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, NiSource presently has a consensus rating of "Moderate Buy" and an average target price of $37.50.

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.