California Public Employees Retirement System boosted its stake in shares of NiSource Inc. (NYSE:NI) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 684,649 shares of the utilities provider’s stock after purchasing an additional 67,149 shares during the period. California Public Employees Retirement System owned about 0.20% of NiSource worth $17,520,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Tortoise Investment Management LLC bought a new position in NiSource in the third quarter worth approximately $113,000. First Quadrant L P CA bought a new position in NiSource in the third quarter worth approximately $114,000. Valeo Financial Advisors LLC bought a new position in NiSource in the third quarter worth approximately $114,000. Advisory Services Network LLC raised its position in NiSource by 4.4% in the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 200 shares during the period. Finally, TCI Wealth Advisors Inc. raised its position in NiSource by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 24 shares during the period. Institutional investors own 82.19% of the company’s stock.
NI has been the topic of several recent research reports. Citigroup increased their price target on shares of NiSource from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. KeyCorp reissued a “buy” rating and issued a $29.50 price objective on shares of NiSource in a research note on Friday, October 20th. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, September 22nd. Jefferies Group reissued a “hold” rating and issued a $26.00 price objective on shares of NiSource in a research note on Wednesday. Finally, J P Morgan Chase & Co increased their price objective on shares of NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.95.
NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. The firm had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same period in the prior year, the company posted $0.06 earnings per share. research analysts anticipate that NiSource Inc. will post 1.2 EPS for the current year.
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NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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