NiSource (NYSE:NI) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, June 22nd.
NI has been the topic of a number of other research reports. Bank of America restated a “buy” rating and issued a $28.00 price target on shares of NiSource in a research note on Monday, May 7th. JPMorgan Chase & Co. upgraded NiSource from a “neutral” rating to an “overweight” rating in a research report on Thursday, May 31st. KeyCorp reiterated a “buy” rating and set a $25.00 price objective on shares of NiSource in a research report on Thursday, March 15th. Guggenheim restated a “buy” rating and issued a $27.00 price target on shares of NiSource in a research report on Friday, February 23rd. Finally, Credit Suisse Group raised their price objective on NiSource to $27.00 and gave the company an “outperform” rating in a research note on Monday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.50.
Shares of NYSE:NI opened at $26.28 on Friday. 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 stock has a market cap of $8.82 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.70 and a beta of 0.28. 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 results on Wednesday, May 2nd. The utilities provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. NiSource had a return on equity of 9.85% and a net margin of 3.85%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business posted $0.71 EPS. sell-side analysts expect that NiSource will post 1.29 EPS for the current year.
In other news, VP Peter T. Disser sold 6,732 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $24.67, for a total transaction of $166,078.44. Following the transaction, the vice president now owns 7,695 shares of the company’s stock, valued at approximately $189,835.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric L. Butler purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were purchased at an average cost of $24.83 per share, for a total transaction of $99,320.00. Following the transaction, 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. 0.37% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NI. California Public Employees Retirement System lifted its position in shares of NiSource by 4.3% during the 4th quarter. California Public Employees Retirement System now owns 714,031 shares of the utilities provider’s stock valued at $18,329,000 after buying an additional 29,382 shares during the last quarter. Sei Investments Co. raised its stake in shares of NiSource by 32.7% during the 4th quarter. Sei Investments Co. now owns 200,065 shares of the utilities provider’s stock valued at $5,136,000 after purchasing an additional 49,325 shares during the period. Wells Fargo & Company MN raised its stake in shares of NiSource by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,151,619 shares of the utilities provider’s stock valued at $29,562,000 after purchasing an additional 39,562 shares during the period. Toronto Dominion Bank raised its stake in shares of NiSource by 16.9% during the 4th quarter. Toronto Dominion Bank now owns 144,432 shares of the utilities provider’s stock valued at $3,708,000 after purchasing an additional 20,925 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of NiSource by 20.5% during the 4th quarter. Global X Management Co. LLC now owns 15,404 shares of the utilities provider’s stock valued at $395,000 after purchasing an additional 2,623 shares during the period. 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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