NiSource Inc. (NI) Receives $26.50 Average Price Target from Analysts
NiSource Inc. (NYSE:NI) has earned a consensus rating of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $26.50.
Several research analysts have commented on NI shares. JPMorgan Chase & Co. lifted their price target on NiSource from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 10th. Bank of America raised NiSource from a “neutral” rating to a “buy” rating in a research report on Friday, March 23rd. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Credit Suisse Group boosted their target price on NiSource to $27.00 and gave the company an “outperform” rating in a report on Monday, May 7th. Finally, Citigroup lowered NiSource from a “buy” rating to a “neutral” rating and dropped their target price for the company from $31.00 to $25.00 in a report on Tuesday, March 27th.
NiSource opened at $26.28 on Friday, Marketbeat Ratings reports. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 3.72 and a beta of 0.27. NiSource has a twelve month low of $22.44 and a twelve month high of $27.76. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Tuesday, July 31st will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, July 30th. NiSource’s payout ratio is currently 64.46%.
In other NiSource news, Director Eric L. Butler acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The shares were purchased at an average price of $24.83 per share, with a total value of $99,320.00. Following the completion of the acquisition, the director now directly owns 13,687 shares of the company’s stock, valued at approximately $339,848.21. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Teresa M. Smith sold 15,748 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $25.35, for a total value of $399,211.80. Following the transaction, the vice president now directly owns 11,873 shares in the company, valued at approximately $300,980.55. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NI. Sei Investments Co. boosted its position in NiSource by 32.7% during the fourth quarter. Sei Investments Co. now owns 200,065 shares of the utilities provider’s stock worth $5,136,000 after purchasing an additional 49,325 shares in the last quarter. Wells Fargo & Company MN boosted its position in NiSource by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,151,619 shares of the utilities provider’s stock worth $29,562,000 after purchasing an additional 39,562 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in NiSource by 9.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 36,124 shares of the utilities provider’s stock worth $927,000 after purchasing an additional 3,000 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in NiSource by 8.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,255,262 shares of the utilities provider’s stock worth $32,223,000 after purchasing an additional 93,283 shares in the last quarter. Finally, American International Group Inc. boosted its position in NiSource by 10.4% during the fourth quarter. American International Group Inc. now owns 163,200 shares of the utilities provider’s stock worth $4,189,000 after purchasing an additional 15,367 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.
NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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