NiSource Inc. (NYSE:NI) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its stake in NiSource Inc. (NYSE:NI) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 208,877 shares of the utilities provider’s stock after purchasing an additional 3,306 shares during the quarter. Wedge Capital Management L L P NC’s holdings in NiSource were worth $7,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NI. ING Groep NV purchased a new position in NiSource in the 3rd quarter valued at $748,000. Thomasville National Bank lifted its stake in shares of NiSource by 3.0% in the 4th quarter. Thomasville National Bank now owns 567,196 shares of the utilities provider’s stock worth $20,850,000 after acquiring an additional 16,364 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of NiSource by 88.4% in the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after acquiring an additional 6,991,608 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NiSource by 21.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,712,724 shares of the utilities provider’s stock worth $99,720,000 after acquiring an additional 483,491 shares during the period. Finally, Moran Wealth Management LLC purchased a new position in NiSource during the third quarter worth about $3,068,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NI. Jefferies Financial Group began coverage on NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price objective on the stock. Mizuho lifted their price target on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays boosted their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Stock Up 0.3 %

Shares of NYSE NI opened at $38.13 on Friday. The firm’s 50-day moving average is $36.82 and its two-hundred day moving average is $34.23. The company has a market capitalization of $17.80 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.60 and a beta of 0.54. NiSource Inc. has a 12-month low of $24.80 and a 12-month high of $38.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $1.08 billion during 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%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Equities analysts anticipate 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.