Annex Advisory Services LLC Buys New Position in NiSource Inc. (NYSE:NI)

Annex Advisory Services LLC bought a new stake in NiSource Inc. (NYSE:NI) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,901 shares of the utilities provider’s stock, valued at approximately $585,000.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group boosted its position in shares of NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 527 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of NiSource in the 3rd quarter valued at about $33,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of NiSource in the 2nd quarter valued at about $47,000. Legacy Investment Solutions LLC acquired a new stake in shares of NiSource in the 3rd quarter valued at about $47,000. Finally, Friedenthal Financial acquired a new stake in shares of NiSource in the 3rd quarter valued at about $50,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NI has been the subject of a number of research analyst reports. Barclays upped their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Mizuho lifted their target price on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group assumed coverage on NiSource in a research note on Monday, October 28th. They issued a “buy” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, NiSource currently has an average rating of “Moderate Buy” and an average price target of $37.50.

NiSource Stock Up 0.3 %

NiSource stock opened at $38.13 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. NiSource Inc. has a 1-year low of $24.80 and a 1-year high of $38.56. The company has a market cap of $17.80 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.60 and a beta of 0.54. The stock’s 50 day moving average price is $36.85 and its 200 day moving average price is $34.34.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $986.00 million. During the same period in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal year.

NiSource 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.