Cadence Capital Management LLC lifted its stake in shares of NiSource, Inc (NYSE:NI) by 49.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,395 shares of the utilities provider’s stock after purchasing an additional 5,074 shares during the quarter. Cadence Capital Management LLC’s holdings in NiSource were worth $394,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in NiSource by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock valued at $510,000 after acquiring an additional 200 shares in the last quarter. NGAM Advisors L.P. lifted its position in NiSource by 6.9% in the 2nd quarter. NGAM Advisors L.P. now owns 53,291 shares of the utilities provider’s stock valued at $1,351,000 after acquiring an additional 3,438 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in NiSource by 1.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 42,043 shares of the utilities provider’s stock valued at $1,066,000 after acquiring an additional 599 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new position in NiSource in the 2nd quarter valued at about $338,000. Finally, Rothschild Asset Management Inc. bought a new position in NiSource in the 2nd quarter valued at about $525,000. 82.24% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on NI shares. Wells Fargo & Company started coverage on shares of NiSource in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective for the company. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Credit Suisse Group increased their price objective on shares of NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. J P Morgan Chase & Co increased their price objective on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Finally, KeyCorp reiterated a “buy” rating and issued a $29.50 price objective on shares of NiSource in a research note on Friday, October 20th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $27.23.
Shares of NiSource, Inc (NYSE:NI) traded up $0.20 during mid-day trading on Thursday, hitting $27.00. 1,946,000 shares of the stock traded hands, compared to its average volume of 2,528,047. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.32 and a current ratio of 0.52. NiSource, Inc has a 12 month low of $21.31 and a 12 month high of $27.76. The stock has a market cap of $9,026.07, a price-to-earnings ratio of 23.30, a P/E/G ratio of 3.96 and a beta of 0.36.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. NiSource had a net margin of 5.61% and a return on equity of 8.97%. The company had revenue of $917.00 million during the quarter, compared to analyst estimates of $901.00 million. During the same quarter last year, the business posted $0.06 EPS. equities research analysts anticipate that NiSource, Inc will post 1.19 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “NiSource, Inc (NI) Shares Bought by Cadence Capital Management LLC” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/12/07/nisource-inc-ni-shares-bought-by-cadence-capital-management-llc.html.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI).
Receive News & Ratings for NiSource Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource Inc and related companies with MarketBeat.com's FREE daily email newsletter.