Mizuho Issues Positive Forecast for NiSource (NYSE:NI) Stock Price

NiSource (NYSE:NI) had its price objective increased by Mizuho from $42.00 to $44.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

Several other equities research analysts have also commented on NI. Wells Fargo & Company raised their price target on shares of NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. UBS Group lifted their price target on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $39.33.

NiSource Stock Performance

NiSource stock opened at $39.88 on Wednesday. The stock has a market cap of $18.74 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. NiSource has a 52 week low of $26.26 and a 52 week high of $41.45. The stock has a 50 day moving average of $38.93 and a 200-day moving average of $36.85.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $0.53 EPS. On average, analysts expect that NiSource will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be given a $0.28 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.81%. NiSource’s payout ratio is 69.14%.

Insider Buying and Selling at NiSource

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the transaction, the chief accounting officer now directly owns 24,758 shares in the company, valued at $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On NiSource

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commerce Bank lifted its position in NiSource by 10.0% during the 3rd quarter. Commerce Bank now owns 11,012 shares of the utilities provider’s stock worth $382,000 after acquiring an additional 1,000 shares during the last quarter. Citigroup Inc. lifted its position in shares of NiSource by 17.8% during the 3rd quarter. Citigroup Inc. now owns 421,036 shares of the utilities provider’s stock worth $14,589,000 after buying an additional 63,563 shares during the period. Cerity Partners LLC grew its holdings in shares of NiSource by 20.7% in the 3rd quarter. Cerity Partners LLC now owns 119,180 shares of the utilities provider’s stock worth $4,130,000 after purchasing an additional 20,444 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of NiSource in the 3rd quarter worth approximately $325,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of NiSource by 4.9% in the third quarter. Daiwa Securities Group Inc. now owns 88,441 shares of the utilities provider’s stock valued at $3,064,000 after buying an additional 4,092 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Company Profile

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.