Hennessy Advisors Inc. raised its position in NiSource Inc. (NYSE:NI) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,622,631 shares of the company’s stock after buying an additional 177,500 shares during the period. NiSource comprises about 1.1% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 21st largest position. Hennessy Advisors Inc.’s holdings in NiSource were worth $39,122,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. First Manhattan Co. increased its position in shares of NiSource by 0.5% in the second quarter. First Manhattan Co. now owns 348,249 shares of the company’s stock worth $9,235,000 after buying an additional 1,750 shares during the last quarter. Denali Advisors LLC increased its position in shares of NiSource by 1,127.5% in the second quarter. Denali Advisors LLC now owns 428,400 shares of the company’s stock worth $11,361,000 after buying an additional 393,500 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of NiSource by 1.3% in the second quarter. Capstone Asset Management Co. now owns 57,216 shares of the company’s stock worth $1,517,000 after buying an additional 745 shares during the last quarter. Creative Planning increased its position in shares of NiSource by 9.2% in the second quarter. Creative Planning now owns 18,714 shares of the company’s stock worth $496,000 after buying an additional 1,582 shares during the last quarter. Finally, Gulf International Bank UK Ltd acquired a new position in shares of NiSource during the second quarter worth $2,789,000. Hedge funds and other institutional investors own 81.70% of the company’s stock.
NiSource Inc. (NYSE:NI) traded up 0.18% on Monday, hitting $22.18. 1,238,795 shares of the stock traded hands. The company’s 50 day moving average price is $22.32 and its 200-day moving average price is $24.18. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 23.57 and a beta of 0.28. NiSource Inc. has a 52-week low of $18.60 and a 52-week high of $26.94.
NiSource (NYSE:NI) last issued its earnings results on Tuesday, November 1st. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 quarter in the previous year, the firm posted $0.06 earnings per share. On average, analysts forecast that NiSource Inc. will post $1.07 earnings per share for the current fiscal year.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Evercore ISI raised shares of NiSource from a “sell” rating to a “hold” rating in a report on Wednesday, November 2nd. Guggenheim began coverage on shares of NiSource in a report on Thursday, November 3rd. They set a “neutral” rating on the stock. KeyCorp set a $27.00 target price on shares of NiSource and gave the company a “buy” rating in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 target price on shares of NiSource in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.09.
In other NiSource news, EVP Pablo Vegas purchased 21,541 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average price of $21.75 per share, for a total transaction of $468,516.75. Following the purchase, the executive vice president now directly owns 71,397 shares of the company’s stock, valued at approximately $1,552,884.75. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Teresa M. Smith sold 1,200 shares of NiSource stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total transaction of $28,500.00. Following the transaction, the vice president now owns 37,883 shares in the company, valued at approximately $899,721.25. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
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.