NiSource Inc. (NYSE:NI) Shares Bought by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in shares of NiSource Inc. (NYSE:NI) by 271.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,551 shares of the utilities provider’s stock after purchasing an additional 25,987 shares during the period. Tidal Investments LLC’s holdings in NiSource were worth $1,232,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NI. Ashton Thomas Private Wealth LLC bought a new position in shares of NiSource in the second quarter valued at $25,000. MCF Advisors LLC acquired a new stake in shares of NiSource during the second quarter worth $25,000. Capital Performance Advisors LLP purchased a new stake in shares of NiSource during the third quarter valued at $33,000. Legacy Investment Solutions LLC acquired a new position in shares of NiSource in the 3rd quarter valued at $47,000. Finally, Friedenthal Financial purchased a new position in NiSource in the 3rd quarter worth about $50,000. 91.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NI. Bank of America assumed coverage on shares of NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective for the company. Mizuho raised their price objective on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group started coverage on shares of NiSource in a research note on Monday, October 28th. They set a “buy” rating and a $39.00 target price on the stock. Barclays raised their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, BMO Capital Markets upped their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

NiSource Trading Down 2.2 %

NiSource stock opened at $35.43 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.46 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 $38.56. The company’s fifty day simple moving average is $36.06 and its 200-day simple moving average is $32.99. The stock has a market cap of $16.54 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.84 and a beta of 0.53.

NiSource (NYSE:NI) last issued its earnings results 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 the consensus estimate of $986.00 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that NiSource Inc. will post 1.73 EPS for the current fiscal year.

About NiSource

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.