NiSource, Inc (NYSE:NI) has been given an average rating of “Hold” by the fourteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.75.
A number of research analysts have issued reports on NI shares. Ladenburg Thalmann Financial Services started coverage on NiSource in a report on Friday, May 19th. They issued a “buy” rating and a $27.00 price target for the company. Zacks Investment Research raised NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Friday, May 26th. Barclays PLC reissued an “equal weight” rating and issued a $26.00 price target (up from $25.00) on shares of NiSource in a report on Thursday, June 1st. Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $23.00 price target on shares of NiSource in a report on Friday, March 31st.
In related news, CFO Donald Eugene Brown sold 6,906 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $25.51, for a total transaction of $176,172.06. Following the completion of the sale, the chief financial officer now directly owns 141,168 shares in the company, valued at $3,601,195.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Violet Sistovaris sold 38,550 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $24.25, for a total value of $934,837.50. Following the sale, the executive vice president now owns 185,186 shares of the company’s stock, valued at $4,490,760.50. The disclosure for this sale can be found here. Insiders sold 89,981 shares of company stock valued at $2,191,779 over the last 90 days. Company insiders own 0.32% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. WFG Advisors LP boosted its stake in shares of NiSource by 14,596.4% in the fourth quarter. WFG Advisors LP now owns 4,115 shares of the utilities provider’s stock valued at $104,000 after buying an additional 4,087 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of NiSource during the first quarter valued at approximately $108,000. First Financial Corp IN purchased a new stake in shares of NiSource during the first quarter valued at approximately $124,000. TCI Wealth Advisors Inc. boosted its stake in shares of NiSource by 0.4% in the first quarter. TCI Wealth Advisors Inc. now owns 6,054 shares of the utilities provider’s stock valued at $144,000 after buying an additional 27 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of NiSource during the first quarter valued at approximately $159,000. Hedge funds and other institutional investors own 82.40% of the company’s stock.
NiSource (NYSE:NI) traded down 0.42% during midday trading on Monday, reaching $25.81. 2,056,243 shares of the company traded hands. NiSource has a 1-year low of $21.17 and a 1-year high of $26.94. The firm has a 50-day moving average of $25.25 and a 200-day moving average of $23.53. The stock has a market capitalization of $8.38 billion, a P/E ratio of 23.59 and a beta of 0.34.
NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.06. NiSource had a return on equity of 9.18% and a net margin of 7.65%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the company posted $0.62 earnings per share. On average, analysts predict that NiSource will post $1.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, July 27th. NiSource’s dividend payout ratio (DPR) is presently 64.22%.
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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