Raymond James Financial Services Advisors Inc. Acquires 3,092 Shares of NiSource Inc. (NYSE:NI)

Raymond James Financial Services Advisors Inc. raised its holdings in NiSource Inc. (NYSE:NIGet Rating) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,266 shares of the utilities provider’s stock after purchasing an additional 3,092 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in NiSource were worth $2,274,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NI. Northwestern Mutual Wealth Management Co. raised its position in shares of NiSource by 4.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,938 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 396 shares during the last quarter. Vantage Consulting Group Inc grew its stake in shares of NiSource by 3.8% during the second quarter. Vantage Consulting Group Inc now owns 11,328 shares of the utilities provider’s stock worth $334,000 after purchasing an additional 414 shares during the period. Brinker Capital Investments LLC grew its stake in shares of NiSource by 2.4% during the first quarter. Brinker Capital Investments LLC now owns 18,197 shares of the utilities provider’s stock worth $579,000 after purchasing an additional 426 shares during the period. DnB Asset Management AS grew its stake in shares of NiSource by 0.7% during the second quarter. DnB Asset Management AS now owns 73,523 shares of the utilities provider’s stock worth $2,168,000 after purchasing an additional 495 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of NiSource by 0.5% during the third quarter. State of Michigan Retirement System now owns 109,869 shares of the utilities provider’s stock worth $2,768,000 after purchasing an additional 500 shares during the period. Institutional investors own 92.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Credit Suisse Group raised NiSource from a “neutral” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Wednesday, November 9th. Guggenheim decreased their price objective on NiSource from $32.00 to $27.00 in a research note on Monday, October 24th. Evercore ISI decreased their price objective on NiSource to $27.00 in a research note on Tuesday, November 15th. StockNews.com assumed coverage on NiSource in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Wells Fargo & Company boosted their target price on NiSource to $31.00 in a research note on Wednesday, December 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

NiSource Stock Performance

Shares of NiSource stock opened at $27.79 on Tuesday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.63 and a beta of 0.46. The stock’s 50-day moving average is $27.19 and its 200-day moving average is $27.88. NiSource Inc. has a one year low of $23.78 and a one year high of $32.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.57 and a quick ratio of 0.37.

NiSource (NYSE:NIGet Rating) last issued its quarterly earnings results on Monday, November 7th. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $996.60 million. NiSource had a net margin of 12.81% and a return on equity of 10.27%. Equities analysts predict that NiSource Inc. will post 1.45 earnings per share for the current fiscal year.

NiSource Profile

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NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

Further Reading

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Institutional Ownership by Quarter for NiSource (NYSE:NI)

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