NiSource Inc. (NYSE:NI) – Research analysts at Jefferies Group decreased their FY2019 earnings estimates for shares of NiSource in a research report issued on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the firm will post earnings of $1.24 per share for the year, down from their previous forecast of $1.27. Jefferies Group has a “Hold” rating on the stock.
NiSource (NYSE:NI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same period last year, the company earned $0.18 earnings per share.
Several other research firms have also recently issued reports on NI. Evercore ISI cut shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 target price on the stock. in a research note on Wednesday, July 6th. KeyCorp reaffirmed an “outperform” rating and set a $27.00 price target (up previously from $25.50) on shares of NiSource in a research report on Tuesday, July 5th. Argus reaffirmed a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Citigroup Inc. upped their price target on shares of NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.09.
NiSource (NYSE:NI) traded up 0.633% during trading on Monday, hitting $23.055. 1,647,285 shares of the stock were exchanged. NiSource has a 1-year low of $18.60 and a 1-year high of $26.94. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 28.047 and a beta of 0.25. The company has a 50-day moving average price of $23.82 and a 200 day moving average price of $24.38.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, October 27th. NiSource’s dividend payout ratio is 80.49%.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total transaction of $28,500.00. Following the completion of the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its stake in shares of NiSource by 50.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 378,212 shares of the company’s stock worth $10,029,000 after buying an additional 126,208 shares during the period. Candriam Luxembourg S.C.A. bought a new stake in shares of NiSource during the second quarter worth about $14,518,000. Geode Capital Management LLC raised its stake in shares of NiSource by 6.1% in the first quarter. Geode Capital Management LLC now owns 2,843,274 shares of the company’s stock worth $66,889,000 after buying an additional 162,206 shares during the period. BlackRock Group LTD raised its stake in shares of NiSource by 11.1% in the first quarter. BlackRock Group LTD now owns 1,806,554 shares of the company’s stock worth $42,562,000 after buying an additional 180,355 shares during the period. Finally, Gulf International Bank UK Ltd bought a new stake in shares of NiSource during the second quarter worth about $2,789,000. 82.30% of the stock is owned by institutional investors and hedge funds.
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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