NiSource Inc. (NI) Shares Down 0.5%
Shares of NiSource Inc. (NYSE:NI) traded down 0.5% during mid-day trading on Friday . The stock traded as low as $25.64 and last traded at $25.92, with a volume of 1,524,182 shares changing hands. The stock had previously closed at $26.04.
Several analysts have issued reports on the company. Evercore ISI cut NiSource from a “hold” rating to a “sell” rating and set a $23.75 target price on the stock. in a research report on Wednesday. KeyCorp reiterated an “outperform” rating and set a $27.00 price objective (up previously from $25.50) on shares of NiSource in a report on Tuesday. JPMorgan Chase & Co. lowered NiSource from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Tuesday, March 29th. They noted that the move was a valuation call. US Capital Advisors lowered NiSource from an “overweight” rating to a “hold” rating in a report on Thursday, March 10th. Finally, Barclays PLC increased their price objective on NiSource from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, March 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $21.69.
The stock has a 50-day moving average price of $24.96 and a 200 day moving average price of $22.67. The stock has a market capitalization of $8.40 billion and a P/E ratio of 42.28.
NiSource (NYSE:NI) last announced its earnings results on Tuesday, May 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm earned $1.45 billion during the quarter, compared to analysts’ expectations of $1.78 billion. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. Equities research analysts forecast that NiSource Inc. will post $1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, July 29th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.53%. This is a positive change from NiSource’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, July 27th.
Several institutional investors have bought and sold shares of NI. Dimensional Fund Advisors LP increased its position in NiSource by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,247,040 shares of the company’s stock valued at $24,332,000 after buying an additional 19,209 shares during the period. US Bancorp DE increased its position in NiSource by 54.9% in the fourth quarter. US Bancorp DE now owns 172,997 shares of the company’s stock valued at $3,376,000 after buying an additional 61,335 shares during the period. Advisors Asset Management Inc. increased its position in NiSource by 61.8% in the fourth quarter. Advisors Asset Management Inc. now owns 411,221 shares of the company’s stock valued at $8,023,000 after buying an additional 157,130 shares during the period. Cibc World Markets Corp acquired a new position in NiSource during the fourth quarter valued at approximately $2,536,000. Finally, Victory Capital Management Inc. increased its position in NiSource by 0.7% in the fourth quarter. Victory Capital Management Inc. now owns 3,414,135 shares of the company’s stock valued at $66,610,000 after buying an additional 25,185 shares during the period.
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