NiSource Inc. (NI) Sees Unusually-High Trading Volume
NiSource Inc. (NYSE:NI) saw strong trading volume on Thursday . 4,874,833 shares changed hands during mid-day trading, an increase of 71% from the previous session’s volume of 2,856,459 shares.The stock last traded at $25.93 and had previously closed at $25.87.
Several equities research analysts have commented on the stock. Argus reaffirmed a “hold” rating on shares of NiSource in a report on Monday, July 11th. Evercore ISI lowered shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 price target on the stock. in a report on Wednesday, July 6th. KeyCorp reaffirmed an “outperform” rating and issued a $27.00 price target (up from $25.50) on shares of NiSource in a report on Tuesday, July 5th. Finally, JPMorgan Chase & Co. lowered shares of NiSource from an “overweight” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Tuesday, March 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.69.
The stock has a market capitalization of $8.34 billion and a price-to-earnings ratio of 41.96. The firm has a 50-day moving average price of $25.53 and a 200 day moving average price of $23.10.
NiSource (NYSE:NI) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. The firm earned $1.45 billion during the quarter, compared to analyst estimates of $1.78 billion. NiSource’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. Analysts expect that NiSource Inc. will post $1.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, July 29th will be issued a $0.165 dividend. This is a boost from NiSource’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.55%.
Several large investors have recently made changes to their positions in the stock. Quantitative Investment Management LLC purchased a new stake in shares of NiSource during the fourth quarter worth $1,379,000. PNC Financial Services Group Inc. raised its stake in shares of NiSource by 18.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 85,732 shares of the company’s stock worth $1,673,000 after buying an additional 13,284 shares during the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of NiSource by 28.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 91,265 shares of the company’s stock worth $1,802,000 after buying an additional 20,024 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of NiSource during the fourth quarter worth $2,536,000. Finally, Sei Investments Co. raised its stake in shares of NiSource by 1.0% in the fourth quarter. Sei Investments Co. now owns 157,042 shares of the company’s stock worth $3,064,000 after buying an additional 1,597 shares during the last quarter.
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 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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