17,051 Shares in NiSource Inc. (NYSE:NI) Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new position in NiSource Inc. (NYSE:NI) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 17,051 shares of the utilities provider’s stock, valued at approximately $591,000.

A number of other large investors also recently modified their holdings of NI. MCF Advisors LLC bought a new stake in shares of NiSource in the second quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in NiSource in the 2nd quarter valued at approximately $25,000. Capital Performance Advisors LLP acquired a new position in NiSource in the 3rd quarter valued at approximately $33,000. Family Firm Inc. bought a new stake in shares of NiSource in the 2nd quarter worth approximately $43,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of NiSource during the 2nd quarter worth approximately $47,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Stock Up 0.7 %

Shares of NI opened at $38.23 on Wednesday. The company has a market capitalization of $17.84 billion, a P/E ratio of 23.17, a PEG ratio of 3.14 and a beta of 0.51. NiSource Inc. has a one year low of $24.80 and a one year high of $38.28. The business’s 50 day simple moving average is $35.12 and its 200-day simple moving average is $32.01. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NI has been the subject of several research reports. Wells Fargo & Company raised their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of NiSource in a report on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective for the company. Jefferies Financial Group began coverage on shares of NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 target price on the stock. BMO Capital Markets increased their price target on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Evercore ISI lifted their price objective on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.50.

NiSource Company 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.