Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of NiSource Inc. (NYSE:NI) by 48.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 428,242 shares of the utilities provider’s stock after selling 398,591 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.12% of NiSource worth $10,672,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of NI. Renaissance Technologies LLC grew its stake in NiSource by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,528,100 shares of the utilities provider’s stock valued at $40,158,000 after purchasing an additional 136,500 shares during the period. Zurich Insurance Group Ltd FI bought a new position in NiSource in the 2nd quarter valued at $3,355,000. Schroder Investment Management Group grew its stake in NiSource by 0.3% in the 2nd quarter. Schroder Investment Management Group now owns 2,334,425 shares of the utilities provider’s stock valued at $60,975,000 after purchasing an additional 5,885 shares during the period. State Board of Administration of Florida Retirement System grew its stake in NiSource by 0.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 492,916 shares of the utilities provider’s stock valued at $12,954,000 after purchasing an additional 3,817 shares during the period. Finally, US Bancorp DE grew its stake in NiSource by 5.4% in the 2nd quarter. US Bancorp DE now owns 62,592 shares of the utilities provider’s stock valued at $1,645,000 after purchasing an additional 3,209 shares during the period. 91.20% of the stock is currently owned by institutional investors.
In other NiSource news, CFO Donald Eugene Brown sold 2,400 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $26.18, for a total value of $62,832.00. Following the completion of the transaction, the chief financial officer now owns 46,767 shares in the company, valued at approximately $1,224,360.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.
NI stock opened at $27.09 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.40 and a debt-to-equity ratio of 1.52. The firm has a market cap of $10.02 billion, a PE ratio of 22.39, a PEG ratio of 3.84 and a beta of 0.14. NiSource Inc. has a fifty-two week low of $22.44 and a fifty-two week high of $28.11.
NiSource (NYSE:NI) last posted its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.10 earnings per share for the quarter, topping the 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 company had revenue of $895.00 million during the quarter, compared to the consensus estimate of $946.10 million. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities analysts forecast that NiSource Inc. will post 1.29 EPS for the current year.
NI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, October 3rd. Goldman Sachs Group downgraded NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 price target for the company. in a research note on Friday, September 21st. Wolfe Research set a $27.00 price target on NiSource and gave the stock a “buy” rating in a research note on Monday, September 17th. Bank of America reiterated a “buy” rating and set a $28.00 price target on shares of NiSource in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. set a $27.00 price target on NiSource and gave the stock a “buy” rating in a research note on Monday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.45.
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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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