NiSource Inc. (NI) Receives Consensus Rating of “Buy” from Brokerages
Shares of NiSource Inc. (NYSE:NI) have earned an average rating of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $27.23.
A number of equities research analysts have commented on the stock. Credit Suisse Group upgraded shares of NiSource from an “underperform” rating to an “outperform” rating and raised their price target for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co lifted their price objective on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Citigroup lifted their price objective on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, November 20th. Finally, KeyCorp reiterated a “buy” rating and set a $29.50 price objective on shares of NiSource in a report on Friday, October 20th.
Several hedge funds and other institutional investors have recently modified their holdings of NI. NGAM Advisors L.P. lifted its position in shares of NiSource by 6.9% during the second quarter. NGAM Advisors L.P. now owns 53,291 shares of the utilities provider’s stock valued at $1,351,000 after purchasing an additional 3,438 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of NiSource by 1.4% during the second quarter. Janney Montgomery Scott LLC now owns 42,043 shares of the utilities provider’s stock valued at $1,066,000 after purchasing an additional 599 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of NiSource by 0.4% during the second quarter. CIBC Asset Management Inc now owns 30,131 shares of the utilities provider’s stock valued at $764,000 after purchasing an additional 124 shares in the last quarter. Korea Investment CORP bought a new position in shares of NiSource during the second quarter valued at about $1,877,000. Finally, Retirement Systems of Alabama lifted its position in shares of NiSource by 0.3% during the second quarter. Retirement Systems of Alabama now owns 156,824 shares of the utilities provider’s stock valued at $3,977,000 after purchasing an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 82.24% of the company’s stock.
NiSource (NI) traded up $0.11 during trading hours on Monday, reaching $27.14. 3,964,500 shares of the company’s stock were exchanged, compared to its average volume of 2,533,939. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32. The firm has a market capitalization of $9,140.58, a PE ratio of 23.60, a price-to-earnings-growth ratio of 4.01 and a beta of 0.36. NiSource has a 1-year low of $21.60 and a 1-year high of $27.76.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same period last year, the company posted $0.06 earnings per share. research analysts forecast that NiSource will post 1.19 EPS for the current year.
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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