NiSource Inc. (NI) Sees Unusually-High Trading Volume
Shares of NiSource Inc. (NYSE:NI) saw unusually-strong trading volume on Friday . Approximately 10,421,018 shares changed hands during mid-day trading, an increase of 193% from the previous session’s volume of 3,556,054 shares.The stock last traded at $24.62 and had previously closed at $24.99.
Several analysts have weighed in on NI shares. Argus reiterated a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Evercore ISI started coverage on NiSource in a research report on Monday, April 25th. They issued a “hold” rating and a $22.00 price objective for the company. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Credit Suisse Group AG set a $25.00 target price on NiSource and gave the company a “hold” rating in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $26.00 target price on shares of NiSource in a report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. NiSource has an average rating of “Hold” and a consensus target price of $23.50.
The stock has a market capitalization of $7.93 billion and a price-to-earnings ratio of 29.95. The stock has a 50-day moving average price of $25.62 and a 200-day moving average price of $23.86.
NiSource (NYSE:NI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. During the same period in the previous year, the firm posted $0.18 EPS. Analysts forecast that NiSource Inc. will post $1.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, October 27th.
Several institutional investors recently made changes to their positions in NI. Wells Fargo & Company MN boosted its position in shares of NiSource by 5.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,212,738 shares of the company’s stock worth $23,661,000 after buying an additional 57,683 shares during the period. Bank of Montreal Can boosted its position in shares of NiSource by 98.1% in the fourth quarter. Bank of Montreal Can now owns 576,218 shares of the company’s stock worth $11,242,000 after buying an additional 285,409 shares during the period. Utah Retirement Systems boosted its position in shares of 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 during the period. US Bancorp DE boosted its position in shares of 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 during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of NiSource by 5.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,171,456 shares of the company’s stock worth $22,856,000 after buying an additional 63,269 shares during the period.
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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