BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $2.59 Million Holdings in NiSource Inc. (NYSE:NI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in NiSource Inc. (NYSE:NI) by 12.7% in the third quarter, according to the company in its most recent 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 period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in NiSource were worth $2,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NI. ING Groep NV acquired a new stake in NiSource during the third quarter worth about $748,000. Moran Wealth Management LLC acquired a new stake in shares of NiSource during the 3rd quarter worth approximately $3,068,000. Comerica Bank increased its position in shares of NiSource by 57.6% during the first quarter. Comerica Bank now owns 115,176 shares of the utilities provider’s stock valued at $3,186,000 after purchasing an additional 42,104 shares during the period. TD Asset Management Inc raised its stake in shares of NiSource by 8.4% in the second quarter. TD Asset Management Inc now owns 1,865,926 shares of the utilities provider’s stock valued at $53,757,000 after purchasing an additional 144,197 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in NiSource in the third quarter worth $798,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NI has been the subject of a number of recent research reports. Barclays increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America began coverage on shares of NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. Wells Fargo & Company upped their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Mizuho raised their target price on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, NiSource currently has an average rating of “Moderate Buy” and an average target price of $37.50.

NiSource Price Performance

Shares of NI stock opened at $37.25 on Thursday. The stock’s fifty day moving average is $35.57 and its 200-day moving average is $32.39. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.56. The stock has a market capitalization of $17.39 billion, a PE ratio of 22.53, a PEG ratio of 3.11 and a beta of 0.53.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter last year, the company posted $0.19 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that NiSource Inc. will post 1.73 EPS for the current fiscal year.

NiSource Company 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.