NiSource Inc. (NYSE:NI) Receives $26.33 Average Price Target from Analysts

Shares of NiSource Inc. (NYSE:NI) have earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.33.

NI has been the subject of a number of analyst reports. UBS Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, March 22nd. Barclays increased their target price on shares of NiSource from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, May 25th. Evercore ISI reiterated an “in-line” rating and set a $27.00 target price (up from $25.00) on shares of NiSource in a report on Thursday, April 29th. Credit Suisse Group raised their price objective on shares of NiSource from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Friday, April 16th. Finally, Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Thursday, April 15th.

In related news, Director Michael E. Jesanis sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $25.56, for a total transaction of $102,240.00. Following the completion of the sale, the director now owns 42,250 shares of the company’s stock, valued at $1,079,910. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric L. Butler purchased 5,000 shares of NiSource stock in a transaction that occurred on Tuesday, May 25th. The shares were purchased at an average cost of $25.38 per share, with a total value of $126,900.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alpha DNA Investment Management LLC increased its position in shares of NiSource by 27.6% during the first quarter. Alpha DNA Investment Management LLC now owns 1,818 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 393 shares in the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in NiSource by 1.5% in the first quarter. Elo Mutual Pension Insurance Co now owns 27,647 shares of the utilities provider’s stock worth $667,000 after purchasing an additional 415 shares during the last quarter. M&T Bank Corp boosted its holdings in NiSource by 2.8% in the fourth quarter. M&T Bank Corp now owns 16,749 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 457 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in NiSource by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the utilities provider’s stock worth $586,000 after purchasing an additional 500 shares during the last quarter. Finally, Bollard Group LLC boosted its holdings in NiSource by 0.7% in the first quarter. Bollard Group LLC now owns 76,795 shares of the utilities provider’s stock worth $1,852,000 after purchasing an additional 514 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

NYSE NI opened at $25.75 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.60 and a debt-to-equity ratio of 1.79. The company’s 50-day simple moving average is $25.47. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 3.08 and a beta of 0.31. NiSource has a 12-month low of $21.09 and a 12-month high of $26.60.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, May 5th. The utilities provider reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.87 billion. NiSource had a net margin of 4.38% and a return on equity of 11.30%. During the same period in the prior year, the business posted $0.76 earnings per share. Equities analysts expect that NiSource will post 1.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 20th. Shareholders of record on Friday, July 30th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Thursday, July 29th. NiSource’s dividend payout ratio is 66.67%.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates through two segments, Gas Distribution Operations and Electric Operations. It provides natural gas services and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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Analyst Recommendations for NiSource (NYSE:NI)

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