NiSource Inc. (NYSE:NI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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.”
A number of other equities research analysts also recently issued reports on the stock. KeyCorp set a $27.00 price target on shares of NiSource and gave the company a “buy” rating in a research note on Monday, September 12th. Credit Suisse Group AG downgraded shares of NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 price target on the stock. in a research note on Friday, August 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 price target on shares of NiSource in a research note on Wednesday, August 3rd. Citigroup Inc. boosted their price target on shares of NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group downgraded shares of NiSource from a “hold” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research note on Monday, July 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. NiSource currently has a consensus rating of “Hold” and a consensus target price of $25.09.
NiSource (NYSE:NI) opened at 25.11 on Thursday. The stock has a market cap of $8.09 billion, a PE ratio of 30.55 and a beta of 0.25. NiSource has a 12-month low of $17.67 and a 12-month high of $26.94. The firm has a 50 day moving average of $24.44 and a 200-day moving average of $24.32.
NiSource (NYSE:NI) last issued its earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, topping 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 quarter in the prior year, the firm earned $0.18 EPS. On average, analysts expect that NiSource will post $1.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio (DPR) is presently 80.49%.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the business’s 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 transaction, the vice president now owns 37,883 shares in the company, valued at approximately $899,721.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. boosted 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 period. Lynch & Associates IN boosted its position in NiSource by 0.3% in the second quarter. Lynch & Associates IN now owns 10,228 shares of the company’s stock valued at $271,000 after buying an additional 31 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in NiSource by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 12,266 shares of the company’s stock valued at $325,000 after buying an additional 58 shares during the period. Sii Investments Inc. WI boosted its position in NiSource by 0.9% in the first quarter. Sii Investments Inc. WI now owns 11,639 shares of the company’s stock valued at $273,000 after buying an additional 99 shares during the period. Finally, MUFG Americas Holdings Corp boosted 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 period. Institutional investors own 82.28% of the company’s stock.
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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