NiSource Inc. (NI) Sees Strong Trading Volume
NiSource Inc. (NYSE:NI) shares saw unusually-strong trading volume on Thursday . Approximately 4,874,833 shares were traded during 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 research analysts have weighed in on NI shares. JPMorgan Chase & Co. lowered shares of 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. 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. Argus reaffirmed a “hold” rating on shares of NiSource in a report on Monday, July 11th. Finally, Evercore ISI began coverage on shares of NiSource in a report on Monday, April 25th. They issued a “hold” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.69.
The firm’s 50 day moving average is $25.60 and its 200 day moving average is $23.15. The stock has a market cap of $8.44 billion and a PE ratio of 42.49.
NiSource (NYSE:NI) last released its earnings results on Tuesday, May 3rd. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The company had revenue of $1.45 billion for 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 company earned $0.85 earnings per share. Analysts predict that NiSource Inc. will post $1.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, July 29th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, July 27th. This is a boost from NiSource’s previous quarterly dividend of $0.16.
A number of institutional investors recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in NiSource by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 28,165,168 shares of the company’s stock valued at $549,502,000 after buying an additional 1,580,685 shares during the last quarter. Victory Capital Management Inc. boosted 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 last quarter. Morgan Stanley boosted its position in NiSource by 111.2% in the fourth quarter. Morgan Stanley now owns 2,886,991 shares of the company’s stock valued at $56,325,000 after buying an additional 1,520,089 shares during the last quarter. Wells Fargo & Company MN boosted its position in NiSource by 5.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,212,738 shares of the company’s stock valued at $23,661,000 after buying an additional 57,683 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in NiSource by 52.9% in the fourth quarter. New York State Common Retirement Fund now owns 1,113,034 shares of the company’s stock valued at $21,715,000 after buying an additional 385,034 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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