NiSource, Inc (NI) Given “Buy” Rating at KeyCorp
NiSource, Inc (NYSE:NI)‘s stock had its “buy” rating restated by stock analysts at KeyCorp in a research report issued on Friday. They presently have a $29.50 target price on the utilities provider’s stock. KeyCorp’s price target suggests a potential upside of 10.24% from the company’s previous close.
A number of other equities analysts have also commented on the company. J P Morgan Chase & Co lifted their price objective on NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, October 2nd. Credit Suisse Group raised NiSource from an “underperform” rating to an “outperform” rating and boosted their price target for the company from $25.00 to $29.00 in a research note on Monday, August 14th. Wells Fargo & Company began coverage on NiSource in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price target on shares of NiSource in a research note on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.75.
Shares of NiSource (NI) opened at 26.76 on Friday. NiSource has a 1-year low of $21.17 and a 1-year high of $27.29. The company has a market capitalization of $8.72 billion, a PE ratio of 31.04 and a beta of 0.36. The company’s 50-day moving average price is $26.33 and its 200-day moving average price is $25.66.
NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. The company had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, equities analysts expect that NiSource will post $1.19 earnings per share for the current fiscal year.
In other news, Director Michael E. Jesanis bought 2,000 shares of the stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of $26.44 per share, with a total value of $52,880.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at $904,115.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Marshall Wace North America L.P. raised its position in shares of NiSource by 304.9% during the second quarter. Marshall Wace North America L.P. now owns 142,287 shares of the utilities provider’s stock worth $3,557,000 after purchasing an additional 107,142 shares during the period. State of Wisconsin Investment Board raised its position in shares of NiSource by 48.8% during the second quarter. State of Wisconsin Investment Board now owns 205,446 shares of the utilities provider’s stock worth $5,210,000 after purchasing an additional 67,360 shares during the period. Calamos Advisors LLC acquired a new position in shares of NiSource during the second quarter worth approximately $4,326,000. Schroder Investment Management Group acquired a new position in shares of NiSource during the second quarter worth approximately $35,129,000. Finally, GAM Holding AG raised its position in shares of NiSource by 336.2% during the second quarter. GAM Holding AG now owns 69,166 shares of the utilities provider’s stock worth $1,754,000 after purchasing an additional 53,311 shares during the period. 81.94% of the stock is currently owned by institutional investors.
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 Company’s 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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