NiSource, Inc (NI) Receives $26.44 Consensus PT from Brokerages
Shares of NiSource, Inc (NYSE:NI) have been given a consensus recommendation of “Buy” by the fourteen research firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $26.44.
A number of analysts recently commented on NI shares. KeyCorp reiterated a “buy” rating and set a $29.50 price objective on shares of NiSource in a research report on Friday, September 1st. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, June 13th. Wells Fargo & Company started coverage on NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective for the company. Jefferies Group LLC reiterated a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. Finally, Credit Suisse Group upgraded NiSource from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $25.00 to $29.00 in a research report on Monday, August 14th.
NiSource (NYSE:NI) traded up 0.35% on Wednesday, hitting $25.59. The stock had a trading volume of 1,646,949 shares. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 29.69 and a beta of 0.39. NiSource has a 52 week low of $21.17 and a 52 week high of $27.29. The firm has a 50-day moving average of $26.75 and a 200 day moving average of $25.30.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million during the quarter, compared to analysts’ expectations of $934.95 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. On average, analysts predict that NiSource will post $1.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is presently 81.40%.
In related news, Director Michael E. Jesanis purchased 2,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was acquired at an average price of $26.44 per share, with a total value of $52,880.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $904,115.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. grew its holdings in NiSource by 0.4% during the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 24 shares during the period. ING Groep NV grew its holdings in NiSource by 0.4% during the second quarter. ING Groep NV now owns 16,563 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 59 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in NiSource by 0.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 68 shares during the period. Level Four Advisory Services LLC grew its holdings in NiSource by 0.5% during the first quarter. Level Four Advisory Services LLC now owns 16,299 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 76 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in NiSource by 0.4% during the second quarter. CIBC Asset Management Inc now owns 30,131 shares of the utilities provider’s stock valued at $764,000 after purchasing an additional 124 shares during the period. 81.96% of the stock is owned by institutional investors and hedge funds.
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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 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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