BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in NiSource Inc. (NYSE:NI) by 51.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 385,698 shares of the utilities provider’s stock after acquiring an additional 131,333 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.11% of NiSource worth $9,870,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in shares of NiSource by 32.8% in the second quarter. Alliancebernstein L.P. now owns 10,831,595 shares of the utilities provider’s stock valued at $274,689,000 after buying an additional 2,675,042 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of NiSource in the second quarter valued at approximately $63,874,000. Ameriprise Financial Inc. increased its position in shares of NiSource by 349.2% in the second quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock valued at $50,247,000 after buying an additional 1,540,050 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of NiSource by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 3,707,119 shares of the utilities provider’s stock valued at $94,013,000 after buying an additional 1,387,190 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of NiSource in the second quarter valued at approximately $35,129,000. 82.24% of the stock is owned by institutional investors.
Shares of NiSource Inc. (NYSE NI) traded up $0.11 on Monday, hitting $27.14. The company had a trading volume of 3,964,500 shares, compared to its average volume of 2,533,939. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32. NiSource Inc. has a 52-week low of $21.60 and a 52-week high of $27.76. The stock has a market capitalization of $9,140.58, a PE ratio of 23.60, a price-to-earnings-growth ratio of 4.01 and a beta of 0.36.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Monday, October 2nd. KeyCorp reiterated a “buy” rating and set a $29.50 price target on shares of NiSource in a research report on Friday, September 1st. Credit Suisse Group upgraded NiSource from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $25.00 to $29.00 in a research report on Monday, August 14th. Citigroup boosted their price target on NiSource from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Finally, J P Morgan Chase & Co boosted their price target on NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. NiSource currently has a consensus rating of “Buy” and a consensus target price of $27.23.
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NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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