NiSource Inc. (NI) Stock Price Down 0.5%
NiSource Inc. (NYSE:NI) traded down 0.5% on Friday . The company traded as low as $25.64 and last traded at $25.92, with a volume of 1,524,182 shares trading hands. The stock had previously closed at $26.04.
A number of equities research analysts recently weighed in on the company. Evercore ISI cut NiSource from a “hold” rating to a “sell” rating and set a $23.75 price target for the company. in a report on Wednesday. KeyCorp reaffirmed an “outperform” rating and set a $27.00 price target (up from $25.50) on shares of NiSource in a report on Tuesday, July 5th. Barclays PLC raised their price target on NiSource from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, March 18th. Finally, JPMorgan Chase & Co. cut NiSource from an “overweight” rating to a “neutral” rating and set a $24.00 price target for the company. in a report on Tuesday, March 29th. They noted that the move was a valuation call. One investment 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. The stock currently has an average rating of “Hold” and a consensus price target of $21.69.
The stock has a market cap of $8.40 billion and a PE ratio of 42.28. The company’s 50-day moving average price is $25.03 and its 200 day moving average price is $22.72.
NiSource (NYSE:NI) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. During the same quarter in the previous year, the business earned $0.85 EPS. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.78 billion. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that NiSource Inc. will post $1.06 earnings per share for the current fiscal year.
The business also recently declared 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 is an increase from NiSource’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, July 27th. This represents a $0.66 annualized dividend and a dividend yield of 2.53%.
Several large investors recently modified their holdings of NI. Cornerstone Capital Management Holdings LLC. raised its stake in shares of NiSource by 40.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 174,796 shares of the company’s stock valued at $3,410,000 after buying an additional 50,674 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new position in NiSource during the fourth quarter valued at approximately $11,771,000. Dai Ichi Life Insurance CO. LTD. increased its position in NiSource by 249.6% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 237,135 shares of the company’s stock valued at $4,627,000 after buying an additional 169,296 shares during the period. Swiss National Bank increased its position in NiSource by 0.5% in the fourth quarter. Swiss National Bank now owns 417,689 shares of the company’s stock valued at $8,149,000 after buying an additional 2,100 shares during the period. Finally, Ecofin Ltd. increased its position in NiSource by 59.8% in the fourth quarter. Ecofin Ltd. now owns 530,427 shares of the company’s stock valued at $10,349,000 after buying an additional 198,565 shares during the period.
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