iA Global Asset Management Inc. Takes Position in NiSource Inc. (NYSE:NI)

iA Global Asset Management Inc. acquired a new position in NiSource Inc. (NYSE:NI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,259 shares of the utilities provider’s stock, valued at approximately $78,000.

A number of other hedge funds also recently added to or reduced their stakes in NI. MCF Advisors LLC purchased a new position in shares of NiSource in the 2nd quarter valued at $25,000. Ashton Thomas Private Wealth LLC purchased a new position in NiSource in the second quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in NiSource in the third quarter valued at about $33,000. Family Firm Inc. bought a new position in NiSource in the second quarter worth about $43,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of NiSource during the second quarter valued at about $47,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Mizuho increased their price objective on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Bank of America initiated coverage on NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.50.

NiSource Price Performance

Shares of NI stock opened at $36.61 on Wednesday. NiSource Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $38.56. The firm has a market capitalization of $17.09 billion, a PE ratio of 22.19, a P/E/G ratio of 3.08 and a beta of 0.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The stock’s 50-day simple moving average is $35.82 and its 200-day simple moving average is $32.68.

NiSource (NYSE:NI) last issued 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. 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 quarter in the prior year, the company earned $0.19 EPS. NiSource’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts expect that NiSource Inc. will post 1.73 earnings per share for the current year.

NiSource 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.