State Street Corp Grows Stock Holdings in NiSource Inc. (NYSE:NI)

State Street Corp grew its holdings in NiSource Inc. (NYSE:NI) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,691,174 shares of the utilities provider’s stock after acquiring an additional 1,247,368 shares during the period. State Street Corp owned about 4.86% of NiSource worth $786,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NI. ING Groep NV purchased a new position in NiSource in the 3rd quarter worth approximately $748,000. Moran Wealth Management LLC purchased a new position in shares of NiSource in the third quarter valued at $3,068,000. TD Asset Management Inc grew its holdings in NiSource by 8.4% during the 2nd 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. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in NiSource during the 3rd quarter worth $798,000. Finally, Millennium Management LLC lifted its holdings in NiSource by 0.7% in the 2nd quarter. Millennium Management LLC now owns 6,374,053 shares of the utilities provider’s stock worth $183,636,000 after buying an additional 44,598 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Stock Performance

Shares of NI opened at $37.06 on Friday. The stock has a market capitalization of $17.30 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.10 and a beta of 0.53. The business’s fifty day moving average price is $35.75 and its 200 day moving average price is $32.53. 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 Inc. has a 12-month low of $24.80 and a 12-month high of $38.56.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays raised their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Mizuho upped their target price on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Bank of America assumed coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

About NiSource

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.