NiSource Inc. (NI) Shares Bought by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. raised its stake in NiSource Inc. (NYSE:NI) by 5.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,098,585 shares of the company’s stock after buying an additional 103,090 shares during the period. Duff & Phelps Investment Management Co.’s holdings in NiSource were worth $50,597,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. TCI Wealth Advisors Inc. boosted its position in shares of NiSource by 0.5% in the second quarter. TCI Wealth Advisors Inc. now owns 4,671 shares of the company’s stock worth $124,000 after buying an additional 22 shares during the last quarter. Lynch & Associates IN raised its position in NiSource by 0.3% in the second quarter. Lynch & Associates IN now owns 10,228 shares of the company’s stock valued at $271,000 after buying an additional 31 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in NiSource by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 12,266 shares of the company’s stock valued at $325,000 after buying an additional 58 shares during the period. MUFG Americas Holdings Corp raised its position in NiSource by 2.5% in the second quarter. MUFG Americas Holdings Corp now owns 4,149 shares of the company’s stock valued at $110,000 after buying an additional 100 shares during the period. Finally, Advisor Partners LLC raised its position in NiSource by 1.3% in the second quarter. Advisor Partners LLC now owns 9,448 shares of the company’s stock valued at $251,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 81.70% of the company’s stock.
NiSource Inc. (NYSE:NI) traded down 1.39% during trading on Wednesday, reaching $22.06. The company had a trading volume of 240,477 shares. The stock has a market cap of $7.12 billion, a P/E ratio of 23.44 and a beta of 0.28. NiSource Inc. has a 12-month low of $18.60 and a 12-month high of $26.94. The firm has a 50-day moving average price of $22.31 and a 200 day moving average price of $24.17.
NiSource (NYSE:NI) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.87% and a return on equity of 8.76%. During the same quarter in the previous year, the firm earned $0.06 EPS. Equities research analysts predict that NiSource Inc. will post $1.07 EPS for the current fiscal year.
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Several research analysts have commented on NI shares. Credit Suisse Group AG lowered NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a research report on Friday, August 19th. They noted that the move was a valuation call. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Friday, September 23rd. Jefferies Group raised NiSource from an “underperform” rating to a “hold” rating in a research report on Thursday, October 13th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 price objective on shares of NiSource in a research report on Wednesday, August 3rd. Finally, KeyCorp set a $27.00 price objective on NiSource and gave the company a “buy” rating in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $25.09.
In related news, EVP Pablo Vegas purchased 21,541 shares of the stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average cost of $21.75 per share, for a total transaction of $468,516.75. Following the acquisition, the executive vice president now directly owns 71,397 shares in the company, valued at approximately $1,552,884.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.
NiSource Company Profile
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 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.
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