The NiSource Inc. (NI) Stake Increased by Great West Life Assurance Co. Can

The NiSource Inc. (NI) Stake Increased by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can increased its stake in NiSource Inc. (NYSE:NI) by 16.2% during the third quarter, Holdings Channel reports. The institutional investor owned 263,618 shares of the company’s stock after buying an additional 36,848 shares during the period. Great West Life Assurance Co. Can’s holdings in NiSource were worth $6,350,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cohen & Steers Inc. increased its stake in NiSource by 14,608.3% in the second quarter. Cohen & Steers Inc. now owns 97,537,000 shares of the company’s stock worth $95,586,000 after buying an additional 96,873,859 shares during the period. Vanguard Group Inc. increased its stake in NiSource by 12.2% in the second quarter. Vanguard Group Inc. now owns 33,580,911 shares of the company’s stock worth $890,566,000 after buying an additional 3,654,293 shares during the period. State Street Corp increased its stake in NiSource by 14.9% in the second quarter. State Street Corp now owns 16,070,267 shares of the company’s stock worth $426,183,000 after buying an additional 2,088,701 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in NiSource by 4.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,280,046 shares of the company’s stock worth $219,587,000 after buying an additional 354,551 shares during the period. Finally, BlackRock Fund Advisors increased its stake in NiSource by 8.1% in the second quarter. BlackRock Fund Advisors now owns 7,784,313 shares of the company’s stock worth $206,440,000 after buying an additional 582,579 shares during the period. 82.00% of the stock is owned by hedge funds and other institutional investors.

Shares of NiSource Inc. (NYSE:NI) opened at 22.51 on Friday. NiSource Inc. has a 52-week low of $19.05 and a 52-week high of $26.94. The stock has a market cap of $7.26 billion, a PE ratio of 23.92 and a beta of 0.24. The company’s 50-day moving average price is $22.05 and its 200-day moving average price is $23.61.

NiSource (NYSE:NI) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. NiSource had a return on equity of 8.76% and a net margin of 6.87%. During the same period in the prior year, the company earned $0.06 EPS. Analysts expect that NiSource Inc. will post $1.07 earnings per share for the current year.

A number of equities research analysts have commented on NI shares. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Friday, September 23rd. Guggenheim raised NiSource from a “neutral” rating to a “buy” rating in a report on Monday, January 9th. Citigroup Inc. raised NiSource from a “neutral” rating to a “buy” rating in a report on Wednesday, December 14th. US Capital Advisors raised NiSource from a “hold” rating to a “buy” rating in a report on Wednesday, November 30th. Finally, Evercore ISI raised NiSource from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. NiSource presently has a consensus rating of “Hold” and a consensus target price of $24.86.

In other NiSource news, Director Michael E. Jesanis purchased 12,000 shares of NiSource stock in a transaction on Monday, January 9th. The stock was bought at an average price of $22.53 per share, for a total transaction of $270,360.00. Following the transaction, the director now owns 26,725 shares of the company’s stock, valued at approximately $602,114.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Pablo Vegas purchased 21,541 shares of NiSource stock in a transaction on Wednesday, November 16th. The shares were acquired at an average price of $21.75 per share, with a total value of $468,516.75. Following the transaction, the executive vice president now directly owns 71,397 shares in the company, valued at approximately $1,552,884.75. The disclosure for this purchase can be found here. 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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