NiSource Inc. (NYSE:NI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $28.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.55% from the stock’s previous close.
According to Zacks, “NiSource Inc.’s consistent investments to further strengthen its infrastructure and in its regulated operations will continue to drive its results. NiSource’s regulated business model provides visibility to its forward earnings. The company's strong liquidity position and improving credit rating will allow it to obtain additional funds at cheaper costs. However, despite investing in upgrade programs, NiSource faces the risk of disruption in operation from its ageing infrastructure. Further, delays in completion of projects increase capital costs and stretch the time limit of NiSource’s expected benefit from these projects.”
Several other research firms have also issued reports on NI. KeyCorp reiterated an “outperform” rating and set a $27.00 target price (up previously from $25.50) on shares of NiSource in a report on Tuesday, July 5th. Evercore ISI lowered NiSource from a “hold” rating to a “sell” rating and set a $23.75 target price on the stock. in a report on Wednesday, July 6th. Argus reiterated a “hold” rating on shares of NiSource in a report on Monday, July 11th. Jefferies Group lowered NiSource from a “hold” rating to an “underperform” rating and set a $22.00 target price on the stock. in a report on Monday, July 25th. Finally, Citigroup Inc. upped their target price on NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. NiSource currently has a consensus rating of “Hold” and a consensus price target of $25.09.
Shares of NiSource (NYSE:NI) opened at 25.10 on Friday. NiSource has a one year low of $17.72 and a one year high of $26.94. The stock’s 50 day moving average price is $24.45 and its 200 day moving average price is $24.36. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 30.54 and a beta of 0.25.
NiSource (NYSE:NI) last issued its quarterly earnings results 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 return on equity of 8.75% and a net margin of 6.18%. During the same period last year, the business earned $0.18 EPS. On average, equities analysts anticipate that NiSource will post $1.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.66 annualized dividend and a yield of 2.63%. NiSource’s dividend payout ratio is 80.49%.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total value of $28,500.00. Following the sale, the vice president now owns 37,883 shares in the company, valued at $899,721.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of NI. MUFG Americas Holdings Corp increased its position in NiSource by 2.5% in the second quarter. MUFG Americas Holdings Corp now owns 4,149 shares of the company’s stock valued at $110,000 after buying an additional 100 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in NiSource by 84.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,503 shares of the company’s stock valued at $119,000 after buying an additional 2,068 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in NiSource by 0.5% in the second quarter. TCI Wealth Advisors Inc. now owns 4,671 shares of the company’s stock valued at $124,000 after buying an additional 22 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in NiSource during the second quarter valued at approximately $193,000. Finally, Glenmede Trust Co. NA increased its position in NiSource by 9.1% in the second quarter. Glenmede Trust Co. NA now owns 7,325 shares of the company’s stock valued at $193,000 after buying an additional 611 shares during the last quarter. 82.28% of the stock is currently owned by institutional investors.
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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