NiSource, Inc (NI) Raised to “Outperform” at Credit Suisse Group
NiSource, Inc (NYSE:NI) was upgraded by stock analysts at Credit Suisse Group from an “underperform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The brokerage presently has a $29.00 price target on the utilities provider’s stock, up from their previous price target of $25.00. Credit Suisse Group’s price target points to a potential upside of 8.78% from the company’s previous close.
Several other brokerages have also recently commented on NI. Ladenburg Thalmann Financial Services initiated coverage on shares of NiSource in a research report on Friday, May 19th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Zelman & Associates cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Barclays PLC reissued an “equal weight” rating and issued a $26.00 price target (up previously from $25.00) on shares of NiSource in a research note on Thursday, June 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price target on shares of NiSource in a research note on Friday, July 14th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $26.33.
NiSource (NYSE NI) opened at 26.66 on Monday. NiSource has a one year low of $21.17 and a one year high of $26.78. The stock has a 50 day moving average of $25.92 and a 200-day moving average of $24.59. The stock has a market cap of $8.69 billion, a P/E ratio of 30.93 and a beta of 0.37.
NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The business had revenue of $990.70 million for the quarter, compared to analysts’ expectations of $934.95 million. During the same period in the previous year, the business earned $0.09 earnings per share. Analysts anticipate that NiSource will post $1.19 EPS for the current year.
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In related news, Director Michael E. Jesanis bought 2,000 shares of NiSource stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at $904,115.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the sale, the chief financial officer now owns 141,168 shares of the company’s stock, valued at $3,601,195.68. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. raised its stake in NiSource by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 284,065 shares of the utilities provider’s stock valued at $6,758,000 after buying an additional 8,779 shares during the period. Creative Planning raised its stake in NiSource by 9.7% in the first quarter. Creative Planning now owns 31,059 shares of the utilities provider’s stock valued at $739,000 after buying an additional 2,737 shares during the period. Gulf International Bank UK Ltd raised its stake in NiSource by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 107,050 shares of the utilities provider’s stock valued at $2,546,000 after buying an additional 1,850 shares during the period. Bank of Montreal Can raised its stake in NiSource by 5.9% in the first quarter. Bank of Montreal Can now owns 453,904 shares of the utilities provider’s stock valued at $10,799,000 after buying an additional 25,271 shares during the period. Finally, Private Trust Co. NA bought a new stake in NiSource during the first quarter valued at $252,000. Hedge funds and other institutional investors own 82.21% of the company’s stock.
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 Company’s 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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