NiSource Inc. (NI) Upgraded by Jefferies Group to Hold
Several other research firms have also recently weighed in on NI. Evercore ISI cut shares of NiSource from a hold rating to a sell rating and set a $23.75 price objective for the company. in a research report on Wednesday, July 6th. KeyCorp reissued an outperform rating and set a $27.00 target price (up previously from $25.50) on shares of NiSource in a research note on Tuesday, July 5th. Argus reissued a hold rating on shares of NiSource in a research note on Monday, July 11th. Zacks Investment Research downgraded NiSource from a buy rating to a hold rating in a research note on Tuesday, July 26th. Finally, Citigroup Inc. boosted their target price on NiSource from $18.08 to $27.00 and gave the stock a neutral rating in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $25.09.
Shares of NiSource (NYSE:NI) traded down 0.4799% on Thursday, hitting $22.7901. 1,258,962 shares of the stock traded hands. The stock has a 50 day moving average of $23.91 and a 200-day moving average of $24.37. The stock has a market cap of $7.34 billion, a PE ratio of 27.7252 and a beta of 0.25. NiSource has a 1-year low of $18.60 and a 1-year high of $26.94.
NiSource (NYSE:NI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 previous year, the business earned $0.18 earnings per share. On average, equities research analysts expect that NiSource will post $1.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio is presently 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 owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.
Several 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 worth $124,000 after buying an additional 22 shares during the last quarter. 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 worth $271,000 after buying an additional 31 shares during the last quarter. 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 worth $325,000 after buying an additional 58 shares during the last quarter. 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 worth $110,000 after buying an additional 100 shares during the last quarter. Finally, Advisor Partners LLC boosted its position in NiSource by 1.3% in the second quarter. Advisor Partners LLC now owns 9,448 shares of the company’s stock worth $251,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 82.29% 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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