Prudent Man Advisors LLC Has $661,000 Stock Position in NiSource Inc. (NYSE:NI)

Prudent Man Advisors LLC lowered its position in shares of NiSource Inc. (NYSE:NI) by 24.2% during the third quarter, Holdings Channel reports. The fund owned 19,087 shares of the utilities provider’s stock after selling 6,080 shares during the quarter. Prudent Man Advisors LLC’s holdings in NiSource were worth $661,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. boosted its position in shares of NiSource by 2.1% in the third quarter. QRG Capital Management Inc. now owns 15,334 shares of the utilities provider’s stock worth $531,000 after buying an additional 309 shares during the period. Farther Finance Advisors LLC lifted its position in shares of NiSource by 12.0% in the third quarter. Farther Finance Advisors LLC now owns 3,442 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 369 shares in the last quarter. Thomasville National Bank boosted its holdings in shares of NiSource by 0.7% during the second quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider’s stock worth $1,548,000 after purchasing an additional 372 shares during the period. Empirical Finance LLC grew its position in NiSource by 3.2% during the third quarter. Empirical Finance LLC now owns 13,926 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 428 shares in the last quarter. Finally, Aurora Investment Counsel increased its stake in NiSource by 0.7% in the 2nd quarter. Aurora Investment Counsel now owns 62,589 shares of the utilities provider’s stock valued at $1,803,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NI shares. Barclays upped their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price objective on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Jefferies Financial Group initiated coverage on NiSource in a report on Monday, October 28th. They set a “buy” rating and a $39.00 target price on the stock. JPMorgan Chase & Co. upped their target price on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America initiated coverage on shares of NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Stock Up 1.5 %

NI stock opened at $36.57 on Monday. NiSource Inc. has a twelve month low of $24.80 and a twelve month high of $36.74. 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 cap of $17.07 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 3.04 and a beta of 0.51. The business’s 50-day simple moving average is $34.67 and its 200 day simple moving average is $31.64.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. NiSource’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. On average, research analysts anticipate that NiSource Inc. will post 1.73 earnings per share for the current year.

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.