Icon Advisers Inc. Co. reduced its position in NiSource Inc. (NYSE:NI) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,300 shares of the utilities provider’s stock after selling 28,000 shares during the quarter. Icon Advisers Inc. Co.’s holdings in NiSource were worth $730,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new position in NiSource in the 2nd quarter valued at about $104,000. Tower Research Capital LLC TRC acquired a new position in NiSource in the 2nd quarter valued at about $105,000. Advisors Asset Management Inc. acquired a new position in NiSource in the 2nd quarter valued at about $110,000. Parallel Advisors LLC grew its position in NiSource by 286.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,701 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 3,485 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in NiSource in the 3rd quarter valued at about $162,000. 90.72% of the stock is owned by institutional investors.
Several equities analysts have weighed in on the company. Guggenheim downgraded NiSource from a “buy” rating to a “neutral” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. KeyCorp boosted their price objective on NiSource from $26.00 to $27.00 and gave the stock a “$26.15” rating in a research report on Thursday, July 19th. Evercore ISI raised NiSource to an “underperform” rating in a research report on Monday, November 5th. Finally, Bank of America reissued a “buy” rating and set a $28.00 price objective on shares of NiSource in a research report on Monday, September 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $27.27.
Shares of NiSource stock opened at $26.16 on Friday. NiSource Inc. has a one year low of $22.44 and a one year high of $28.11. The stock has a market cap of $9.50 billion, a PE ratio of 20.60, a P/E/G ratio of 3.71 and a beta of 0.12. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.40 and a quick ratio of 0.26.
NiSource (NYSE:NI) last announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. NiSource had a positive return on equity of 9.30% and a negative net margin of 1.82%. The business had revenue of $895.00 million during the quarter, compared to the consensus estimate of $946.10 million. During the same period in the previous year, the company posted $0.07 earnings per share. On average, sell-side analysts predict that NiSource Inc. will post 1.29 earnings per share for the current year.
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NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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