Zacks Investment Research upgraded shares of NiSource (NYSE:NI) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $28.00 target price on the utilities provider’s stock.
According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy. NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”
NI has been the topic of a number of other research reports. Credit Suisse Group raised their target price on NiSource from $29.00 to $30.00 and gave the company an outperform rating in a report on Thursday, November 2nd. JPMorgan Chase & Co. raised their target price on NiSource from $25.00 to $27.00 and gave the company a neutral rating in a report on Thursday, October 12th. KeyCorp reaffirmed a buy rating and issued a $29.50 target price on shares of NiSource in a report on Friday, October 20th. Jefferies Group reaffirmed a hold rating and issued a $26.00 target price on shares of NiSource in a report on Wednesday, December 20th. Finally, Citigroup raised their target price on NiSource from $28.00 to $31.00 and gave the company a buy rating in a report on Monday, November 20th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $27.85.
Shares of NiSource (NYSE:NI) traded down $0.30 during mid-day trading on Thursday, hitting $24.79. The company’s stock had a trading volume of 3,308,423 shares, compared to its average volume of 2,913,190. The firm has a market cap of $8,349.12, a P/E ratio of 21.56, a PEG ratio of 3.27 and a beta of 0.37. NiSource has a 52-week low of $21.65 and a 52-week high of $27.76. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.32 and a current ratio of 0.52.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The firm had revenue of $917.00 million for the quarter, compared to the consensus estimate of $901.00 million. NiSource had a return on equity of 8.97% and a net margin of 5.61%. During the same quarter last year, the business posted $0.06 EPS. analysts expect that NiSource will post 1.2 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its holdings in shares of NiSource by 6.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,045,643 shares of the utilities provider’s stock valued at $26,758,000 after acquiring an additional 60,828 shares in the last quarter. AXA raised its position in NiSource by 43.2% during the 3rd quarter. AXA now owns 495,100 shares of the utilities provider’s stock worth $12,669,000 after purchasing an additional 149,300 shares during the last quarter. GSA Capital Partners LLP raised its position in NiSource by 129.3% during the 3rd quarter. GSA Capital Partners LLP now owns 49,440 shares of the utilities provider’s stock worth $1,265,000 after purchasing an additional 27,879 shares during the last quarter. Americafirst Capital Management LLC bought a new position in NiSource during the 3rd quarter worth $669,000. Finally, IFM Investors Pty Ltd raised its position in NiSource by 41.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 15,626 shares of the utilities provider’s stock worth $400,000 after purchasing an additional 4,566 shares during the last quarter. 82.19% of the stock is currently owned by institutional investors.
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NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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