NiSource (NYSE:NI) Sets New 12-Month High – Here’s Why

NiSource Inc. (NYSE:NI)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $40.29 and last traded at $39.94, with a volume of 4369919 shares traded. The stock had previously closed at $40.07.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho raised 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. Wells Fargo & Company lifted their target price on NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $38.13.

NiSource Stock Up 0.5 %

The firm has a market cap of $18.88 billion, a PE ratio of 24.81, a PEG ratio of 2.56 and a beta of 0.54. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average price of $37.66 and a 200-day moving average price of $35.82.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same quarter in the previous year, the company posted $0.53 earnings per share. Research analysts forecast that NiSource Inc. will post 1.91 EPS for the current fiscal year.

NiSource Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from NiSource’s previous quarterly dividend of $0.27. NiSource’s dividend payout ratio is 69.14%.

Insider Buying and Selling at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,758 shares of the company’s stock, valued at $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Institutional Trading of NiSource

Several institutional investors have recently modified their holdings of NI. Jefferies Financial Group Inc. raised its stake in NiSource by 400.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 125,193 shares of the utilities provider’s stock worth $4,602,000 after acquiring an additional 100,193 shares in the last quarter. LifeWealth Investments LLC purchased a new position in shares of NiSource during the fourth quarter worth about $358,000. Toronto Dominion Bank increased its position in shares of NiSource by 29.6% during the fourth quarter. Toronto Dominion Bank now owns 256,294 shares of the utilities provider’s stock worth $9,421,000 after purchasing an additional 58,471 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of NiSource in the 4th quarter valued at about $133,000. Finally, White Knight Strategic Wealth Advisors LLC lifted its holdings in shares of NiSource by 97.0% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 13,290 shares of the utilities provider’s stock valued at $489,000 after purchasing an additional 6,545 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.