NiSource (NYSE:NI) Reaches New 52-Week High – Here’s Why

NiSource Inc. (NYSE:NI) reached a new 52-week high during trading on Wednesday . The company traded as high as $38.94 and last traded at $38.83, with a volume of 2555285 shares. The stock had previously closed at $38.43.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays boosted their price target on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, NiSource presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

NiSource Price Performance

The firm has a market capitalization of $18.11 billion, a PE ratio of 23.51, a PEG ratio of 2.50 and a beta of 0.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35. The firm has a 50-day simple moving average of $36.96 and a 200-day simple moving average of $35.19.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 8.27% and a net margin of 14.63%. During the same quarter in the prior year, the company earned $0.53 earnings per share. As a group, equities analysts forecast that NiSource Inc. will post 1.73 earnings per share for the current year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.28 per share. This is a boost from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, February 3rd. NiSource’s payout ratio is presently 67.88%.

Institutional Trading of NiSource

Institutional investors and hedge funds have recently modified their holdings of the company. Securian Asset Management Inc. grew its position in NiSource by 1.1% in the 4th quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider’s stock valued at $922,000 after buying an additional 282 shares in the last quarter. Aviso Financial Inc. lifted its position in NiSource by 1.0% in the fourth quarter. Aviso Financial Inc. now owns 31,450 shares of the utilities provider’s stock worth $1,156,000 after purchasing an additional 300 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in NiSource by 5.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 5,648 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 300 shares in the last quarter. AMG National Trust Bank increased its position in shares of NiSource by 0.6% during the 4th quarter. AMG National Trust Bank now owns 48,716 shares of the utilities provider’s stock valued at $1,788,000 after purchasing an additional 308 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in NiSource by 2.1% during the third quarter. QRG Capital Management Inc. now owns 15,334 shares of the utilities provider’s stock worth $531,000 after acquiring an additional 309 shares during the period. 91.64% of the stock is currently owned by institutional investors.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.