Zacks Investment Research upgraded shares of NiSource (NYSE:NI) from a hold rating to a buy rating in a research note issued to investors on Monday morning. They currently have $27.00 target price on the utilities provider’s stock.

According to Zacks, “Shares of NiSource have returned higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy.  NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”

Several other equities analysts also recently issued reports on NI. KeyCorp restated a buy rating and issued a $29.50 price objective on shares of NiSource in a research note on Friday, October 20th. Jefferies Group restated a hold rating and issued a $26.00 price objective on shares of NiSource in a research note on Wednesday, December 20th. Citigroup upped their price objective on shares of NiSource from $28.00 to $31.00 and gave the company a buy rating in a research note on Monday, November 20th. Goldman Sachs Group upgraded shares of NiSource from a neutral rating to a buy rating and set a $23.00 price objective for the company in a research note on Wednesday, January 10th. Finally, Edward Jones upgraded shares of NiSource from a hold rating to a buy rating in a research note on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $27.32.

Shares of NiSource (NYSE NI) traded up $0.01 during mid-day trading on Monday, hitting $23.95. 3,642,200 shares of the company were exchanged, compared to its average volume of 2,936,179. The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $8,130.00, a P/E ratio of 28.86, a P/E/G ratio of 3.15 and a beta of 0.43. NiSource has a 12-month low of $21.65 and a 12-month high of $27.76.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same quarter in the previous year, the firm posted $0.06 earnings per share. equities analysts expect that NiSource will post 1.2 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Tortoise Investment Management LLC purchased a new stake in shares of NiSource in the third quarter valued at about $113,000. First Quadrant L P CA purchased a new stake in shares of NiSource in the third quarter valued at about $114,000. Valeo Financial Advisors LLC purchased a new stake in shares of NiSource in the third quarter valued at about $114,000. Advisory Services Network LLC raised its holdings in shares of NiSource by 4.4% in the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock valued at $120,000 after buying an additional 200 shares during the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new stake in shares of NiSource in the second quarter valued at about $202,000. 82.21% 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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