Advisors Asset Management Inc. Sells 13,499 Shares of NiSource Inc. (NYSE:NI)

Advisors Asset Management Inc. decreased its position in NiSource Inc. (NYSE:NI) by 10.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 113,259 shares of the utilities provider’s stock after selling 13,499 shares during the period. Advisors Asset Management Inc.’s holdings in NiSource were worth $3,924,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NI. MCF Advisors LLC bought a new stake in shares of NiSource in the second quarter worth $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in NiSource in the 2nd quarter valued at $25,000. Capital Performance Advisors LLP bought a new stake in NiSource during the 3rd quarter worth about $33,000. Family Firm Inc. acquired a new position in shares of NiSource during the 2nd quarter worth about $43,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of NiSource in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Stock Performance

Shares of NI stock opened at $37.69 on Friday. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $38.07. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 3.09 and a beta of 0.51. The company has a 50-day simple moving average of $35.04 and a 200 day simple moving average of $31.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts predict that NiSource Inc. will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NI shares. JPMorgan Chase & Co. upped their target price on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of NiSource in a research note on Monday, October 28th. They issued a “buy” rating and a $39.00 target price for the company. Bank of America started coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Mizuho lifted their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.