Shares of NiSource Inc. (NYSE:NI) have been given a consensus rating of “Buy” by the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $27.14.
A number of analysts have recently issued reports on NI shares. Goldman Sachs Group raised shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Thursday, January 4th. Credit Suisse Group increased their price objective on shares of NiSource from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Citigroup increased their price objective on shares of NiSource from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Finally, Edward Jones raised shares of NiSource from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tortoise Investment Management LLC purchased a new position in NiSource during the third quarter valued at $113,000. First Quadrant L P CA purchased a new position in NiSource during the third quarter valued at $114,000. Valeo Financial Advisors LLC bought a new position in NiSource during the third quarter valued at $114,000. Advisory Services Network LLC lifted its position in NiSource by 4.4% during the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 200 shares during the last quarter. Finally, FDx Advisors Inc. bought a new position in NiSource during the third quarter valued at $237,000. 84.38% of the stock is owned by institutional investors.
Shares of NiSource (NYSE:NI) traded down $0.22 during midday trading on Friday, hitting $23.37. 3,343,959 shares of the stock were exchanged, compared to its average volume of 3,541,394. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $7,962.90, a PE ratio of 59.90, a PEG ratio of 3.33 and a beta of 0.24. NiSource has a 1 year low of $22.44 and a 1 year high of $27.76.
NiSource (NYSE:NI) last announced its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.35 billion. NiSource had a net margin of 2.64% and a return on equity of 8.90%. During the same period in the prior year, the company posted $0.33 earnings per share. sell-side analysts expect that NiSource will post 1.29 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 9th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 3.34%. This is a boost from NiSource’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, February 8th. NiSource’s dividend payout ratio (DPR) is presently 200.01%.
NiSource Company Profile
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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