NiSource Inc. (NYSE:NI) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in NiSource Inc. (NYSE:NI) by 8.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,279 shares of the utilities provider’s stock after selling 1,181 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in NiSource were worth $460,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its position in shares of NiSource by 7.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 438,845 shares of the utilities provider’s stock worth $12,144,000 after purchasing an additional 29,055 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of NiSource by 3.5% during the first quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider’s stock worth $16,551,000 after purchasing an additional 20,060 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of NiSource by 631.2% during the first quarter. UniSuper Management Pty Ltd now owns 38,946 shares of the utilities provider’s stock worth $1,077,000 after purchasing an additional 33,620 shares in the last quarter. ING Groep NV acquired a new stake in shares of NiSource during the third quarter worth about $748,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of NiSource during the first quarter worth about $487,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Stock Performance

Shares of NiSource stock opened at $37.11 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $17.32 billion, a P/E ratio of 22.49, a P/E/G ratio of 3.04 and a beta of 0.51. The firm’s 50 day moving average is $34.81 and its two-hundred day moving average is $31.76. NiSource Inc. has a 52 week low of $24.80 and a 52 week high of $37.17.

NiSource (NYSE:NI) last announced its earnings results 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. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. Research analysts forecast that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NI has been the topic of several research reports. Evercore ISI increased their price target on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Barclays raised their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Mizuho raised their target price on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America assumed coverage on shares of NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.