NiSource Inc. (NYSE:NI) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of NiSource Inc. (NYSE:NI) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,837 shares of the utilities provider’s stock after selling 3,060 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NiSource were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC purchased a new position in NiSource during the second quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of NiSource during the 2nd quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in NiSource in the 1st quarter valued at approximately $31,000. Capital Performance Advisors LLP purchased a new stake in NiSource in the third quarter valued at approximately $33,000. Finally, Family Firm Inc. acquired a new position in NiSource during the second quarter worth $43,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho increased their price target on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group began coverage on shares of NiSource in a research note on Monday, October 28th. They issued a “buy” rating and a $39.00 price objective for the company. 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 note on Thursday, September 12th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Price Performance

NiSource stock opened at $36.57 on Friday. The stock has a market cap of $17.07 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. The company has a fifty day simple moving average of $34.67 and a 200-day simple moving average of $31.62. 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 Inc. has a 12-month low of $24.80 and a 12-month high of $36.74.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The business 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 business posted $0.19 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts expect that NiSource Inc. will post 1.73 EPS for the current fiscal 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.