Advisors Asset Management Inc. Has $3.92 Million Holdings in NiSource Inc. (NYSE:NI)

Advisors Asset Management Inc. trimmed its holdings in shares of NiSource Inc. (NYSE:NI) by 10.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,259 shares of the utilities provider’s stock after selling 13,499 shares during the period. Advisors Asset Management Inc.’s holdings in NiSource were worth $3,924,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NI. Zimmer Partners LP grew its stake in shares of NiSource by 146.2% during the first quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock valued at $246,388,000 after purchasing an additional 5,290,322 shares during the last quarter. Bank of Montreal Can boosted its position in NiSource by 68.1% in the 2nd quarter. Bank of Montreal Can now owns 3,342,831 shares of the utilities provider’s stock valued at $96,407,000 after buying an additional 1,353,977 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of NiSource by 118.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,616,189 shares of the utilities provider’s stock valued at $46,449,000 after buying 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 acquiring an additional 813,770 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new position in shares of NiSource during the second quarter valued at $22,056,000. Institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on NI shares. Mizuho boosted their price objective on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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 objective on the stock. Bank of America assumed coverage on shares of NiSource in a report on Thursday, September 12th. They set a “buy” rating and a $37.00 target price 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 note on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

NiSource Stock Performance

NI stock opened at $37.69 on Friday. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.07. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The firm has a market cap of $17.59 billion, a PE ratio of 22.84, a P/E/G ratio of 3.09 and a beta of 0.51. The business’s 50-day moving average price is $35.04 and its two-hundred day moving average price is $31.90.

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

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.