NiSource (NYSE:NI)‘s stock had its “buy” rating restated by research analysts at Bank of America in a research report issued to clients and investors on Monday, September 17th. They currently have a $28.00 target price on the utilities provider’s stock. Bank of America’s price target suggests a potential upside of 15.18% from the company’s current price.
Other analysts have also issued research reports about the stock. KeyCorp raised their price target on shares of NiSource from $26.00 to $27.00 and gave the company a “$26.15” rating in a report on Thursday, July 19th. JPMorgan Chase & Co. set a $27.00 target price on shares of NiSource and gave the stock a “buy” rating in a report on Monday, September 17th. Guggenheim reaffirmed a “buy” rating and set a $28.00 target price on shares of NiSource in a report on Monday, July 23rd. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday, July 3rd. Finally, Barclays assumed coverage on shares of NiSource in a report on Tuesday, July 10th. They set an “equal weight” rating and a $27.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.18.
Shares of NYSE NI traded down $0.34 during mid-day trading on Monday, hitting $24.31. 2,936,098 shares of the stock were exchanged, compared to its average volume of 3,433,458. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 3.51 and a beta of 0.17. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.40. NiSource has a twelve month low of $22.44 and a twelve month high of $28.11.
NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.39 million. NiSource had a net margin of 5.20% and a return on equity of 9.19%. During the same period in the prior year, the business earned $0.10 EPS. On average, analysts forecast that NiSource will post 1.29 earnings per share for the current year.
In related news, CFO Donald Eugene Brown sold 2,400 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total value of $63,600.00. Following the sale, the chief financial officer now directly owns 49,167 shares of the company’s stock, valued at approximately $1,302,925.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carrie J. Hightman sold 27,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $26.75, for a total transaction of $722,250.00. Following the completion of the sale, the executive vice president now directly owns 325,066 shares in the company, valued at $8,695,515.50. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its stake in shares of NiSource by 15.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 29,498 shares of the utilities provider’s stock worth $747,000 after purchasing an additional 3,922 shares during the last quarter. Mackay Shields LLC acquired a new position in shares of NiSource during the 1st quarter worth about $1,355,000. State of Wisconsin Investment Board increased its stake in shares of NiSource by 26.9% during the 1st quarter. State of Wisconsin Investment Board now owns 539,567 shares of the utilities provider’s stock worth $12,901,000 after purchasing an additional 114,353 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of NiSource by 7.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,697,327 shares of the utilities provider’s stock worth $40,584,000 after purchasing an additional 123,530 shares during the last quarter. Finally, Tyers Asset Management LLC increased its stake in shares of NiSource by 18.1% during the 1st quarter. Tyers Asset Management LLC now owns 15,456 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 2,368 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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