NiSource Inc. (NI) Upgraded by Jefferies Group to Hold
NI has been the topic of a number of other reports. Credit Suisse Group AG cut NiSource from a neutral rating to an underperform rating and set a $25.00 price target on the stock. in a research note on Friday, August 19th. They noted that the move was a valuation call. Zacks Investment Research raised NiSource from a hold rating to a buy rating and set a $28.00 price target on the stock in a research note on Friday, September 23rd. KeyCorp set a $27.00 price target on NiSource and gave the stock a buy rating in a research note on Monday, September 12th. Argus reaffirmed a hold rating on shares of NiSource in a research note on Monday, July 11th. Finally, Citigroup Inc. lifted their price target on NiSource from $18.08 to $27.00 and gave the stock a neutral rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $25.09.
NiSource (NYSE:NI) traded down 0.4799% during trading on Thursday, hitting $22.7901. The company’s stock had a trading volume of 1,258,962 shares. The firm has a market cap of $7.34 billion, a P/E ratio of 27.7252 and a beta of 0.25. The firm has a 50 day moving average of $23.91 and a 200 day moving average of $24.37. NiSource has a 12 month low of $18.60 and a 12 month high of $26.94.
NiSource (NYSE:NI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same period in the previous year, the company posted $0.18 EPS. Equities research analysts predict that NiSource will post $1.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.66 annualized dividend and a yield of 2.88%. NiSource’s payout ratio is 80.49%.
In related news, VP Teresa M. Smith sold 1,200 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total value of $28,500.00. Following the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at $899,721.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in NI. MUFG Americas Holdings Corp increased its stake in NiSource by 2.5% in the second quarter. MUFG Americas Holdings Corp now owns 4,149 shares of the company’s stock valued at $110,000 after buying an additional 100 shares during the period. Advisory Services Network LLC increased its stake in NiSource by 15.5% in the third quarter. Advisory Services Network LLC now owns 4,853 shares of the company’s stock valued at $117,000 after buying an additional 653 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in NiSource by 84.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,503 shares of the company’s stock valued at $119,000 after buying an additional 2,068 shares during the period. TCI Wealth Advisors Inc. increased its stake in NiSource by 0.5% in the second quarter. TCI Wealth Advisors Inc. now owns 4,671 shares of the company’s stock valued at $124,000 after buying an additional 22 shares during the period. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in NiSource during the second quarter valued at approximately $193,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.
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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