Baird Financial Group Inc. Reduces Stock Position in NiSource Inc. (NYSE:NI)

Baird Financial Group Inc. lowered its position in shares of NiSource Inc. (NYSE:NIGet Rating) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,242 shares of the utilities provider’s stock after selling 860 shares during the period. Baird Financial Group Inc.’s holdings in NiSource were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NI. Morningstar Investment Services LLC raised its holdings in NiSource by 19.7% in the 1st quarter. Morningstar Investment Services LLC now owns 16,014 shares of the utilities provider’s stock worth $505,000 after purchasing an additional 2,635 shares in the last quarter. Raymond James & Associates raised its holdings in NiSource by 11.9% in the 1st quarter. Raymond James & Associates now owns 429,411 shares of the utilities provider’s stock worth $13,655,000 after purchasing an additional 45,665 shares in the last quarter. OLD National Bancorp IN bought a new position in NiSource in the 2nd quarter worth $472,000. M&T Bank Corp raised its holdings in NiSource by 18.7% in the 1st quarter. M&T Bank Corp now owns 42,354 shares of the utilities provider’s stock worth $1,347,000 after purchasing an additional 6,671 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC raised its holdings in NiSource by 77.2% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 14,865 shares of the utilities provider’s stock worth $473,000 after purchasing an additional 6,474 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NI shares. Evercore ISI decreased their price objective on shares of NiSource to $27.00 in a report on Tuesday, November 15th. BMO Capital Markets upped their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. StockNews.com assumed coverage on shares of NiSource in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Guggenheim decreased their price target on shares of NiSource from $32.00 to $27.00 in a research note on Monday, October 24th. Finally, Edward Jones upgraded shares of NiSource from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, NiSource presently has a consensus rating of “Moderate Buy” and an average price target of $29.43.

NiSource Stock Up 0.9 %

NYSE:NI opened at $26.80 on Wednesday. The firm has a market cap of $10.88 billion, a P/E ratio of 17.40, a P/E/G ratio of 2.67 and a beta of 0.45. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.37 and a current ratio of 0.57. NiSource Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $32.58. The firm has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $28.50.

NiSource Profile

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NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses on natural gas service and transportation for residential, commercial, and industrial customers.

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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