PNC Financial Services Group Inc. Has $4.20 Million Position in NiSource Inc. (NYSE:NI)

PNC Financial Services Group Inc. boosted its holdings in NiSource Inc. (NYSE:NI) by 21.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,201 shares of the utilities provider’s stock after buying an additional 21,163 shares during the quarter. PNC Financial Services Group Inc.’s holdings in NiSource were worth $4,200,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in shares of NiSource in the 2nd quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC bought a new position in NiSource during the second quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in NiSource during the third quarter valued at about $33,000. Family Firm Inc. bought a new position in NiSource during the second quarter valued at about $43,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in NiSource during the second quarter valued at about $47,000. Institutional investors own 91.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays upped 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. BMO Capital Markets raised their target price on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Bank of America initiated coverage on shares of NiSource in a research note on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.50.

NiSource Stock Down 0.4 %

Shares of NiSource stock opened at $37.71 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. NiSource Inc. has a 52-week low of $24.80 and a 52-week high of $38.07. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 3.15 and a beta of 0.51. The company’s 50 day moving average price is $35.04 and its 200-day moving average price is $31.95.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 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 business earned $0.19 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that NiSource Inc. will post 1.73 EPS for the current year.

About NiSource

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.