NiSource Inc. (NYSE:NI) Position Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of NiSource Inc. (NYSE:NI) by 12.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,788 shares of the utilities provider’s stock after selling 10,921 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in NiSource were worth $2,591,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. raised its stake in NiSource by 2.1% during the 3rd quarter. QRG Capital Management Inc. now owns 15,334 shares of the utilities provider’s stock valued at $531,000 after purchasing an additional 309 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of NiSource by 12.0% during the third quarter. Farther Finance Advisors LLC now owns 3,442 shares of the utilities provider’s stock valued at $119,000 after buying an additional 369 shares in the last quarter. Empirical Finance LLC raised 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 buying an additional 428 shares during the period. Aurora Investment Counsel lifted 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 worth $1,803,000 after acquiring an additional 450 shares in the last quarter. Finally, Atria Investments Inc boosted its position in NiSource by 5.2% during the 3rd quarter. Atria Investments Inc now owns 9,444 shares of the utilities provider’s stock worth $327,000 after acquiring an additional 465 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NI. Wells Fargo & Company increased their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Mizuho increased their target price on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America initiated coverage on NiSource in a report on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective for the company. Finally, BMO Capital Markets boosted their target price on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. One 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

NiSource Price Performance

Shares of NYSE:NI opened at $37.25 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. The stock has a market capitalization of $17.39 billion, a P/E ratio of 22.53, a P/E/G ratio of 3.11 and a beta of 0.53. The business has a 50-day moving average of $35.57 and a two-hundred day moving average of $32.39. NiSource Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $38.56.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal 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.