NiSource (NI) PT Set at $27.00 by Barclays
NiSource (NYSE:NI) has been assigned a $27.00 target price by investment analysts at Barclays in a note issued to investors on Saturday. The brokerage presently has a “hold” rating on the utilities provider’s stock. Barclays’ target price would suggest a potential upside of 4.81% from the stock’s previous close.
Several other research firms have also commented on NI. Mizuho lowered NiSource from a “buy” rating to a “neutral” rating in a research report on Friday, October 19th. TheStreet lowered NiSource from a “b” rating to a “c+” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. cut their price objective on NiSource from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. ValuEngine lowered NiSource from a “hold” rating to a “sell” rating in a research report on Friday, September 14th. Finally, Guggenheim reissued a “buy” rating and issued a $28.00 price objective on shares of NiSource in a research report on Monday, July 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.36.
NiSource stock traded up $0.07 during midday trading on Friday, reaching $25.76. The stock had a trading volume of 164,725 shares, compared to its average volume of 4,373,509. NiSource has a twelve month low of $22.44 and a twelve month high of $28.11. The stock has a market capitalization of $9.50 billion, a P/E ratio of 21.27, a PEG ratio of 3.64 and a beta of 0.12. The company has a current ratio of 0.40, a quick ratio of 0.26 and a debt-to-equity ratio of 1.52.
In related news, CFO Donald Eugene Brown sold 2,400 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $26.18, for a total value of $62,832.00. Following the completion of the sale, the chief financial officer now directly owns 46,767 shares of the company’s stock, valued at $1,224,360.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in NiSource by 4.5% in the third quarter. BlackRock Inc. now owns 31,345,277 shares of the utilities provider’s stock valued at $781,123,000 after buying an additional 1,360,780 shares during the last quarter. Zimmer Partners LP boosted its stake in NiSource by 1.5% in the third quarter. Zimmer Partners LP now owns 13,579,951 shares of the utilities provider’s stock valued at $338,412,000 after acquiring an additional 201,300 shares during the period. JPMorgan Chase & Co. boosted its stake in NiSource by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 12,869,201 shares of the utilities provider’s stock valued at $320,701,000 after acquiring an additional 3,317,125 shares during the period. Alliancebernstein L.P. boosted its stake in NiSource by 10.5% in the third quarter. Alliancebernstein L.P. now owns 9,581,303 shares of the utilities provider’s stock valued at $238,766,000 after acquiring an additional 913,237 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in NiSource by 8.5% in the third quarter. Neuberger Berman Group LLC now owns 4,577,425 shares of the utilities provider’s stock valued at $114,069,000 after acquiring an additional 358,342 shares during the period. 90.58% of the stock is owned by hedge funds and other institutional investors.
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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