Jupiter Asset Management Ltd. trimmed its position in shares of NiSource Inc. (NYSE:NI – Free Report) by 76.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,543 shares of the utilities provider’s stock after selling 573,629 shares during the period. Jupiter Asset Management Ltd.’s holdings in NiSource were worth $4,881,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NI. Achmea Investment Management B.V. bought a new stake in shares of NiSource in the 1st quarter valued at approximately $33,000. Global Retirement Partners LLC grew its stake in shares of NiSource by 897.5% in the 1st quarter. Global Retirement Partners LLC now owns 1,197 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 1,077 shares during the period. Industrial Alliance Investment Management Inc. bought a new stake in shares of NiSource in the 1st quarter valued at approximately $36,000. Parkside Financial Bank & Trust grew its stake in shares of NiSource by 182.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,372 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 887 shares during the period. Finally, Ancora Advisors LLC bought a new stake in shares of NiSource in the 4th quarter valued at approximately $40,000. 94.91% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
NI has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on NiSource in a research report on Friday, October 6th. They set a “buy” rating and a $25.00 price target on the stock. StockNews.com lowered NiSource from a “hold” rating to a “sell” rating in a research report on Sunday, October 29th. Finally, Guggenheim decreased their price target on NiSource from $30.00 to $27.00 in a research report on Monday, October 9th.
In other NiSource news, CEO Lloyd M. Yates acquired 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $26.44 per share, with a total value of $1,057,600.00. Following the purchase, the chief executive officer now owns 131,242 shares of the company’s stock, valued at approximately $3,470,038.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.
NiSource Stock Performance
NI stock opened at $26.08 on Friday. The business’s fifty day moving average is $25.67 and its 200-day moving average is $26.70. The company has a quick ratio of 0.29, a current ratio of 0.41 and a debt-to-equity ratio of 1.66. The company has a market cap of $10.78 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.27 and a beta of 0.51. NiSource Inc. has a twelve month low of $22.86 and a twelve month high of $28.95.
NiSource (NYSE:NI – Get Free Report) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.06 billion. NiSource had a return on equity of 11.14% and a net margin of 12.46%. During the same quarter in the prior year, the business posted $0.10 EPS. Equities research analysts forecast that NiSource Inc. will post 1.59 EPS for the current year.
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 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.
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