Public Sector Pension Investment Board Acquires 2,200 Shares of NiSource Inc. (NYSE:NI)

Public Sector Pension Investment Board grew its holdings in shares of NiSource Inc. (NYSE:NI) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 478,106 shares of the utilities provider’s stock after buying an additional 2,200 shares during the period. Public Sector Pension Investment Board owned approximately 0.10% of NiSource worth $16,566,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of Montreal Can raised its position in shares of NiSource by 53.3% during the third quarter. Bank of Montreal Can now owns 5,124,909 shares of the utilities provider’s stock worth $176,194,000 after purchasing an additional 1,782,078 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of NiSource during the third quarter worth approximately $32,162,000. AQR Capital Management LLC raised its position in shares of NiSource by 118.4% during the second quarter. AQR Capital Management LLC now owns 1,616,189 shares of the utilities provider’s stock worth $46,449,000 after purchasing an additional 876,033 shares during the period. CWM LLC raised its position in shares of NiSource by 5,767.3% during the second quarter. CWM LLC now owns 827,880 shares of the utilities provider’s stock worth $23,851,000 after purchasing an additional 813,770 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in shares of NiSource during the second quarter worth approximately $22,056,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Stock Performance

Shares of NiSource stock opened at $38.25 on Friday. NiSource Inc. has a 1 year low of $24.80 and a 1 year high of $38.56. The firm has a market cap of $17.85 billion, a PE ratio of 23.18, a P/E/G ratio of 3.18 and a beta of 0.51. The stock has a fifty day moving average price of $35.28 and a 200-day moving average price of $32.12. 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 (NYSE:NI) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Equities research analysts anticipate that NiSource Inc. will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NI shares. Jefferies Financial Group started coverage on NiSource in a research report on Monday, October 28th. They issued a “buy” rating and a $39.00 price target for the company. Barclays increased their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Bank of America started coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. Evercore ISI increased their price target on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased 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 given a buy rating to the company. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

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.