NiSource Inc. (NI) Sees Unusually-High Trading Volume
NiSource Inc. (NYSE:NI) saw unusually-high trading volume on Friday . Approximately 10,421,018 shares changed hands during 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.
NI has been the subject of several recent analyst reports. Evercore ISI initiated coverage on NiSource in a research note on Monday, April 25th. They set a “hold” rating and a $22.00 target price for the company. KeyCorp restated an “outperform” rating and set a $27.00 target price (up previously from $25.50) on shares of NiSource in a research note on Tuesday, July 5th. Argus restated a “hold” rating on shares of NiSource in a research note on Monday, July 11th. Jefferies Group cut NiSource from a “hold” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Monday, July 25th. Finally, Zacks Investment Research cut NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $23.50.
The company has a market cap of $7.93 billion and a price-to-earnings ratio of 29.95. The stock’s 50-day moving average price is $25.62 and its 200-day moving average price is $23.86.
NiSource (NYSE:NI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. During the same period last year, the business posted $0.18 earnings per share. On average, equities research analysts forecast that NiSource Inc. will post $1.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.68%.
Several large investors recently bought and sold shares of NI. Utah Retirement Systems raised its stake 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 during the period. Principal Financial Group Inc. increased its position in shares of NiSource by 90.5% in the fourth quarter. Principal Financial Group Inc. now owns 922,569 shares of the company’s stock worth $17,999,000 after buying an additional 438,228 shares in the last quarter. Wells Fargo & Company MN increased 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 in the last quarter. Finally, Bank of Montreal Can increased 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 in 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.