47,085 Shares in NiSource Inc. (NYSE:NI) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in NiSource Inc. (NYSE:NI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 47,085 shares of the utilities provider's stock, valued at approximately $1,631,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in NiSource in the second quarter worth approximately $25,000. MCF Advisors LLC purchased a new stake in shares of NiSource in the second quarter worth $25,000. Capital Performance Advisors LLP purchased a new stake in NiSource in the 3rd quarter worth $33,000. Legacy Investment Solutions LLC bought a new stake in NiSource during the 3rd quarter valued at approximately $47,000. Finally, Friedenthal Financial bought a new position in shares of NiSource during the third quarter worth $50,000. Institutional investors own 91.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NI shares. Jefferies Financial Group began coverage on NiSource in a report on Monday, October 28th. They set a "buy" rating and a $39.00 price target for the company. Wells Fargo & Company upped their target price on NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Bank of America started coverage on shares of NiSource in a report on Thursday, September 12th. They set a "buy" rating and a $37.00 price objective for the company. Mizuho increased their price target on NiSource from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their target price on NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. One equities research 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, the stock has an average rating of "Moderate Buy" and an average target price of $37.50.

NiSource Stock Up 0.4 %

Shares of NI traded up $0.15 during mid-day trading on Wednesday, hitting $36.76. 4,180,851 shares of the company traded hands, compared to its average volume of 4,034,788. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.56. The business has a 50 day moving average of $35.82 and a 200 day moving average of $32.68. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $17.16 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 3.08 and a beta of 0.53.

NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 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 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 earnings per share. NiSource's revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts anticipate that NiSource Inc. will post 1.73 EPS for the current year.

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.