Tidal Investments LLC Raises Stock Holdings in NiSource Inc. (NYSE:NI)

Tidal Investments LLC boosted its holdings in shares of NiSource Inc. (NYSE:NI) by 271.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,551 shares of the utilities provider’s stock after purchasing an additional 25,987 shares during the quarter. Tidal Investments LLC’s holdings in NiSource were worth $1,232,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in shares of NiSource during the second quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in NiSource during the second quarter worth about $25,000. Capital Performance Advisors LLP bought a new position in NiSource in the third quarter worth about $33,000. Family Firm Inc. acquired a new position in NiSource in the second quarter valued at approximately $43,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in NiSource in the second quarter valued at approximately $47,000. 91.64% of the stock is owned by institutional investors and hedge funds.

NiSource Stock Down 2.2 %

NI stock opened at $35.43 on Thursday. The firm’s 50-day moving average is $36.06 and its two-hundred day moving average is $32.99. The company has a market capitalization of $16.54 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.56. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.19 earnings per share. On average, analysts forecast that NiSource Inc. will post 1.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NI shares. Jefferies Financial Group began coverage on NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America started coverage on shares of NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price objective on the stock. Barclays boosted their target price 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. Finally, BMO Capital Markets upped their target price on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, NiSource has an average rating of “Moderate Buy” and a consensus price target 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.