NiSource Inc. (NI) Trading Down 1.8%
NiSource Inc. (NYSE:NI) shares fell 1.8% during mid-day trading on Wednesday . The stock traded as low as $25.41 and last traded at $25.47, with a volume of 1,601,901 shares trading hands. The stock had previously closed at $25.94.
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 price objective on shares of NiSource in a report on Wednesday. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Citigroup Inc. increased their price objective on NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Argus reaffirmed a “hold” rating on shares of NiSource in a report on Monday, July 11th. Finally, KeyCorp reaffirmed an “outperform” rating and set a $27.00 target price (up from $25.50) on shares of NiSource in a report on Tuesday, July 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $22.83.
The firm has a market cap of $8.08 billion and a P/E ratio of 40.58. The stock has a 50-day moving average price of $25.82 and a 200 day moving average price of $23.53.
NiSource (NYSE:NI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. During the same quarter last year, the firm posted $0.18 EPS. Analysts forecast that NiSource Inc. will post $1.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, July 29th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, July 27th. This is a boost from NiSource’s previous quarterly dividend of $0.16.
A number of institutional investors have added to or reduced their stakes in NI. Utah Retirement Systems raised its position in NiSource by 0.4% in the fourth quarter. Utah Retirement Systems now owns 56,884 shares of the company’s stock worth $1,110,000 after buying an additional 200 shares in the last quarter. State of Tennessee Treasury Department raised its position in NiSource by 25.3% in the fourth quarter. State of Tennessee Treasury Department now owns 238,240 shares of the company’s stock worth $4,648,000 after buying an additional 48,163 shares in the last quarter. US Bancorp DE raised its position in NiSource by 54.9% in the fourth quarter. US Bancorp DE now owns 172,997 shares of the company’s stock worth $3,376,000 after buying an additional 61,335 shares in the last quarter. Advisors Asset Management Inc. raised 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 worth $8,023,000 after buying an additional 157,130 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in NiSource during the fourth quarter worth approximately $2,536,000.
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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