Virtu Financial LLC Buys New Stake in NiSource Inc. (NI)

Virtu Financial LLC bought a new stake in NiSource Inc. (NYSE:NI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 53,143 shares of the utilities provider’s stock, valued at approximately $1,324,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in NiSource by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 12,869,201 shares of the utilities provider’s stock worth $320,701,000 after purchasing an additional 3,317,125 shares during the period. Massachusetts Financial Services Co. MA increased its stake in NiSource by 55.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,331,017 shares of the utilities provider’s stock worth $113,819,000 after purchasing an additional 1,553,750 shares during the period. BlackRock Inc. increased its stake in NiSource by 4.5% during the third quarter. BlackRock Inc. now owns 31,345,277 shares of the utilities provider’s stock worth $781,123,000 after purchasing an additional 1,360,780 shares during the period. FMR LLC increased its stake in NiSource by 215.6% during the third quarter. FMR LLC now owns 1,484,823 shares of the utilities provider’s stock worth $37,002,000 after purchasing an additional 1,014,318 shares during the period. Finally, Millennium Management LLC increased its stake in NiSource by 159.2% during the second quarter. Millennium Management LLC now owns 1,595,126 shares of the utilities provider’s stock worth $41,920,000 after purchasing an additional 979,679 shares during the period. 90.58% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on the stock. Citigroup boosted their price target on shares of NiSource from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday. Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Barclays set a $27.00 price target on shares of NiSource and gave the stock a “hold” rating in a research note on Saturday, November 17th. Evercore ISI upgraded shares of NiSource to an “underperform” rating in a research note on Monday, November 5th. Finally, TheStreet lowered shares of NiSource from a “b” rating to a “c+” rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.45.

In related news, CFO Donald Eugene Brown sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $26.18, for a total transaction of $62,832.00. Following the sale, the chief financial officer now directly owns 46,767 shares in the company, valued at $1,224,360.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

NI stock opened at $26.42 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.26 and a current ratio of 0.40. NiSource Inc. has a fifty-two week low of $22.44 and a fifty-two week high of $28.11. The company has a market cap of $9.63 billion, a P/E ratio of 21.83, a PEG ratio of 3.70 and a beta of 0.12.

NiSource (NYSE:NI) last released its earnings results on Thursday, November 1st. The utilities provider reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. NiSource had a negative net margin of 1.82% and a positive return on equity of 9.30%. The firm had revenue of $895.00 million for the quarter, compared to analyst estimates of $946.10 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Analysts anticipate that NiSource Inc. will post 1.29 EPS for the current year.

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About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Institutional Ownership by Quarter for NiSource (NYSE:NI)

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