Jennison Associates LLC Acquires 4,839 Shares of NiSource, Inc (NI)
Jennison Associates LLC grew its holdings in NiSource, Inc (NYSE:NI) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,705,641 shares of the utilities provider’s stock after acquiring an additional 4,839 shares during the period. Jennison Associates LLC owned 1.10% of NiSource worth $94,827,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NI. First Quadrant L P CA bought a new position in NiSource in the third quarter worth approximately $114,000. Advisory Services Network LLC raised its position in NiSource by 4.4% in the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 200 shares during the period. CENTRAL TRUST Co raised its position in NiSource by 454.0% in the second quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 4,785 shares during the period. TCI Wealth Advisors Inc. raised its position in NiSource by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 24 shares during the period. Finally, Peapack Gladstone Financial Corp bought a new position in NiSource in the second quarter worth approximately $202,000. Institutional investors and hedge funds own 81.99% of the company’s stock.
NI has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $25.00 to $29.00 in a research report on Monday, August 14th. KeyCorp restated a “buy” rating and set a $29.50 price objective on shares of NiSource in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of NiSource from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, J P Morgan Chase & Co raised their price objective on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.85.
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Shares of NiSource, Inc (NI) traded down $0.32 during midday trading on Friday, reaching $27.20. 1,700,100 shares of the company’s stock were exchanged, compared to its average volume of 2,065,980. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.32 and a current ratio of 0.52. The company has a market cap of $9,160.80, a P/E ratio of 23.65, a P/E/G ratio of 4.02 and a beta of 0.37. NiSource, Inc has a one year low of $21.17 and a one year high of $27.61.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $917.00 million for the quarter, compared to the consensus estimate of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same period in the previous year, the firm posted $0.06 EPS. equities analysts anticipate that NiSource, Inc will post 1.19 earnings per share for the current fiscal year.
In other NiSource news, Director Michael E. Jesanis acquired 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $26.44 per share, with a total value of $52,880.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.
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 Company’s 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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