Farther Finance Advisors LLC Buys 369 Shares of NiSource Inc. (NYSE:NI)

Farther Finance Advisors LLC grew its stake in shares of NiSource Inc. (NYSE:NI) by 12.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,442 shares of the utilities provider’s stock after acquiring an additional 369 shares during the period. Farther Finance Advisors LLC’s holdings in NiSource were worth $119,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in NiSource by 11.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,305 shares of the utilities provider’s stock worth $1,623,000 after purchasing an additional 6,162 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in NiSource by 16.6% in the first quarter. Janney Montgomery Scott LLC now owns 47,467 shares of the utilities provider’s stock worth $1,313,000 after purchasing an additional 6,774 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in NiSource by 2.8% in the first quarter. Texas Permanent School Fund Corp now owns 85,457 shares of the utilities provider’s stock worth $2,364,000 after purchasing an additional 2,313 shares during the last quarter. Quantbot Technologies LP purchased a new position in NiSource in the first quarter worth $923,000. Finally, Swiss National Bank grew its holdings in NiSource by 3.7% in the first quarter. Swiss National Bank now owns 1,339,600 shares of the utilities provider’s stock worth $37,053,000 after purchasing an additional 47,300 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NI. Wells Fargo & Company boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays boosted their price objective 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 boosted their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI boosted their target price on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Bank of America initiated coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.50.

NiSource Stock Up 0.7 %

NI stock opened at $36.22 on Tuesday. The stock has a market capitalization of $16.91 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.99 and a beta of 0.51. The firm has a 50-day simple moving average of $34.44 and a 200-day simple moving average of $31.41. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. NiSource Inc. has a 52 week low of $24.61 and a 52 week high of $36.40.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. NiSource had a net margin of 14.63% and a return on equity of 8.27%. 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 prior year, the company earned $0.19 EPS. NiSource’s revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that NiSource Inc. will post 1.73 earnings per share for the current fiscal 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.