Oppenheimer & Co. Inc. Sells 2,110 Shares of NiSource Inc. (NYSE:NI)

Oppenheimer & Co. Inc. reduced its position in shares of NiSource Inc. (NYSE:NI) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,225 shares of the utilities provider’s stock after selling 2,110 shares during the period. Oppenheimer & Co. Inc.’s holdings in NiSource were worth $2,641,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NI. MCF Advisors LLC acquired a new position in shares of NiSource during the 2nd quarter worth about $25,000. Ashton Thomas Private Wealth LLC bought a new position in NiSource in the second quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new position in shares of NiSource during the 1st quarter worth approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of NiSource during the 3rd quarter worth approximately $33,000. Finally, Family Firm Inc. acquired a new stake in shares of NiSource in the 2nd quarter valued at approximately $43,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Price Performance

NiSource stock opened at $36.57 on Friday. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 3.01 and a beta of 0.51. 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. The stock’s 50 day moving average is $34.67 and its 200-day moving average is $31.62.

NiSource (NYSE:NI) last issued 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts expect that NiSource Inc. will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

NI has been the topic of a number of recent analyst reports. Bank of America assumed coverage on shares of NiSource in a report on Thursday, September 12th. They set a “buy” rating and a $37.00 target price on the stock. Wells Fargo & Company upped their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price target on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Mizuho upped their price objective on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Barclays lifted their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

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.