NiSource (NI) Earns Equal Weight Rating from Analysts at Barclays
Barclays began coverage on shares of NiSource (NYSE:NI) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $27.00 price target on the utilities provider’s stock.
Several other research firms have also issued reports on NI. Zacks Investment Research upgraded shares of NiSource from a hold rating to a buy rating and set a $30.00 price target for the company in a report on Tuesday, July 3rd. TheStreet upgraded shares of NiSource from a c rating to a b rating in a report on Wednesday, May 2nd. Bank of America restated a buy rating and set a $28.00 price target on shares of NiSource in a report on Monday, May 7th. Credit Suisse Group raised their price target on shares of NiSource to $27.00 and gave the stock an outperform rating in a report on Monday, May 7th. Finally, JPMorgan Chase & Co. upgraded shares of NiSource from a neutral rating to an overweight rating in a report on Thursday, May 31st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $26.82.
Shares of NiSource stock traded down $0.08 on Tuesday, hitting $26.30. The stock had a trading volume of 2,238,900 shares, compared to its average volume of 2,768,688. The company has a market capitalization of $8.91 billion, a P/E ratio of 21.74, a P/E/G ratio of 3.73 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 debt-to-equity ratio of 1.62, a current ratio of 0.51 and a quick ratio of 0.43.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Tuesday, July 31st will be paid a $0.195 dividend. The ex-dividend date is Monday, July 30th. This represents a $0.78 annualized dividend and a dividend yield of 2.97%. NiSource’s dividend payout ratio is currently 64.46%.
In other news, VP Teresa M. Smith sold 15,748 shares of NiSource stock in a transaction on Monday, May 7th. The shares were sold at an average price of $25.35, for a total value of $399,211.80. Following the completion of the sale, the vice president now owns 11,873 shares in the company, valued at approximately $300,980.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric L. Butler acquired 4,000 shares of the stock in a transaction dated Wednesday, May 9th. The stock was bought at an average price of $24.83 per share, with a total value of $99,320.00. Following the purchase, the director now directly owns 13,687 shares in the company, valued at $339,848.21. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of NiSource by 2.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 85,975 shares of the utilities provider’s stock worth $2,056,000 after purchasing an additional 2,086 shares in the last quarter. South Street Advisors LLC grew its holdings in shares of NiSource by 5.1% during the first quarter. South Street Advisors LLC now owns 47,260 shares of the utilities provider’s stock worth $1,129,000 after purchasing an additional 2,300 shares in the last quarter. Tyers Asset Management LLC grew its holdings in shares of NiSource by 18.1% during the first quarter. Tyers Asset Management LLC now owns 15,456 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 2,368 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of NiSource by 5.4% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 53,011 shares of the utilities provider’s stock worth $1,267,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in shares of NiSource by 25.3% during the first quarter. Wedbush Securities Inc. now owns 13,858 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors own 89.15% of the company’s stock.
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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