Brokerages Set NiSource Inc. (NYSE:NI) Price Target at $26.86

NiSource Inc. (NYSE:NI) has earned a consensus rating of “Buy” from the eight analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.43.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised NiSource from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research report on Tuesday, July 27th. The Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and raised their price objective for the company from $27.00 to $29.00 in a research report on Tuesday.

In other NiSource news, CFO Donald Eugene Brown sold 19,762 shares of NiSource stock in a transaction on Friday, August 20th. The stock was sold at an average price of $25.68, for a total value of $507,488.16. Following the completion of the sale, the chief financial officer now owns 145,938 shares of the company’s stock, valued at approximately $3,747,687.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of NI. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NiSource by 8.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,554 shares of the utilities provider’s stock worth $471,000 after purchasing an additional 1,487 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of NiSource by 5.0% in the first quarter. HighTower Advisors LLC now owns 18,857 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 901 shares during the period. CIBC World Markets Inc. grew its holdings in shares of NiSource by 6.3% in the first quarter. CIBC World Markets Inc. now owns 51,921 shares of the utilities provider’s stock worth $1,252,000 after acquiring an additional 3,083 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of NiSource by 22.3% in the first quarter. Teacher Retirement System of Texas now owns 42,957 shares of the utilities provider’s stock worth $1,036,000 after acquiring an additional 7,825 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of NiSource in the first quarter worth $253,000. 93.62% of the stock is owned by institutional investors and hedge funds.

Shares of NI traded up $0.25 on Monday, reaching $24.94. The stock had a trading volume of 38,736 shares, compared to its average volume of 3,640,651. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 47.48, a price-to-earnings-growth ratio of 2.96 and a beta of 0.32. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.62 and a current ratio of 0.81. The company has a 50-day simple moving average of $24.76 and a 200-day simple moving average of $25.11. NiSource has a 12-month low of $21.09 and a 12-month high of $26.60.

NiSource (NYSE:NI) last released its earnings results on Wednesday, August 4th. The utilities provider reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. NiSource had a return on equity of 11.57% and a net margin of 5.75%. The company had revenue of $986.00 million during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.13 EPS. On average, analysts expect that NiSource will post 1.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 19th. Shareholders of record on Friday, October 29th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, October 28th. NiSource’s payout ratio is 66.67%.

NiSource Company Profile

NiSource, Inc is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses in the natural gas service and transportation for residential, commercial, and industrial customers.

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Analyst Recommendations for NiSource (NYSE:NI)

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