NiSource (NYSE:NI) had its price objective lifted by Bank of America from $27.00 to $28.00 in a research report sent to investors on Friday morning. Bank of America currently has a buy rating on the utilities provider’s stock.
A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of NiSource from $29.00 to $28.00 and set a buy rating on the stock in a research report on Friday. KeyCorp lifted their price objective on shares of NiSource from $27.00 to $28.00 and gave the company an overweight rating in a report on Friday. Mizuho lowered shares of NiSource from a buy rating to a neutral rating in a report on Friday, October 19th. ValuEngine raised shares of NiSource from a sell rating to a hold rating in a report on Thursday, October 18th. Finally, Goldman Sachs Group lowered shares of NiSource from a buy rating to a neutral rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $27.27.
Shares of NYSE:NI traded up $0.55 during trading on Friday, reaching $25.98. 140,283 shares of the company were exchanged, compared to its average volume of 3,680,334. The firm has a market cap of $9.23 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 3.57 and a beta of 0.12. NiSource has a 12-month low of $22.44 and a 12-month high of $28.11. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.26 and a current ratio of 0.40.
NiSource (NYSE:NI) last issued its earnings results on Thursday, November 1st. The utilities provider reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. The business had revenue of $895.00 million for the quarter, compared to analyst estimates of $946.10 million. NiSource had a negative net margin of 1.82% and a positive return on equity of 9.30%. During the same period last year, the company posted $0.07 earnings per share. Equities research analysts predict that NiSource will post 1.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, October 30th. NiSource’s payout ratio is 64.46%.
In other NiSource news, CFO Donald Eugene Brown sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total value of $63,600.00. Following the completion of the sale, the chief financial officer now directly owns 49,167 shares in the company, valued at $1,302,925.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Carrie J. Hightman sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $26.75, for a total transaction of $722,250.00. Following the completion of the sale, the executive vice president now owns 325,066 shares of the company’s stock, valued at $8,695,515.50. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of NiSource by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,175,962 shares of the utilities provider’s stock worth $28,117,000 after purchasing an additional 5,352 shares during the last quarter. LPL Financial LLC increased its stake in shares of NiSource by 150.3% during the first quarter. LPL Financial LLC now owns 42,468 shares of the utilities provider’s stock worth $1,015,000 after purchasing an additional 25,498 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of NiSource during the first quarter worth about $280,000. DnB Asset Management AS increased its stake in shares of NiSource by 8.1% during the second quarter. DnB Asset Management AS now owns 42,500 shares of the utilities provider’s stock worth $1,117,000 after purchasing an additional 3,200 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of NiSource by 28.7% during the second quarter. IFM Investors Pty Ltd now owns 20,530 shares of the utilities provider’s stock worth $540,000 after purchasing an additional 4,573 shares in the last quarter. Institutional investors own 90.72% of the company’s stock.
NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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