Brookstone Capital Management Cuts Stock Position in NiSource Inc. (NYSE:NI)

Brookstone Capital Management lowered its holdings in NiSource Inc. (NYSE:NI) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 313,667 shares of the utilities provider’s stock after selling 20,534 shares during the period. Brookstone Capital Management owned about 0.07% of NiSource worth $11,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. QRG Capital Management Inc. boosted its position in NiSource by 2.1% in the third quarter. QRG Capital Management Inc. now owns 15,334 shares of the utilities provider’s stock worth $531,000 after purchasing an additional 309 shares during the last quarter. Farther Finance Advisors LLC boosted its position in NiSource by 12.0% in the third quarter. Farther Finance Advisors LLC now owns 3,442 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 369 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of NiSource by 4.1% in the third quarter. Coldstream Capital Management Inc. now owns 10,457 shares of the utilities provider’s stock valued at $363,000 after buying an additional 414 shares during the period. Empirical Finance LLC raised its stake in shares of NiSource by 3.2% in the third quarter. Empirical Finance LLC now owns 13,926 shares of the utilities provider’s stock valued at $483,000 after buying an additional 428 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in shares of NiSource by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 27,046 shares of the utilities provider’s stock valued at $937,000 after buying an additional 432 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

NI has been the topic of several research reports. Barclays boosted their target price 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. boosted their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Mizuho boosted their target price on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group started coverage on NiSource in a research note on Monday, October 28th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Wells Fargo & Company boosted their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average target price of $37.50.

NiSource Stock Performance

NYSE:NI opened at $36.36 on Tuesday. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.84 and a beta of 0.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The business’s fifty day moving average is $36.65 and its 200 day moving average is $34.03. NiSource Inc. has a 52-week low of $24.80 and a 52-week high of $38.56.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating 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 firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter last year, the firm posted $0.19 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Research analysts predict that NiSource Inc. will post 1.73 EPS for the current year.

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.