NiSource (NYSE:NI) Hits New 12-Month High – Still a Buy?

NiSource Inc. (NYSE:NI)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $35.48 and last traded at $35.31, with a volume of 2154514 shares trading hands. The stock had previously closed at $35.23.

Analysts Set New Price Targets

Several analysts have recently weighed in on NI shares. Mizuho increased their price target on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

NiSource Stock Performance

The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.89 and a beta of 0.51. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The stock’s fifty day simple moving average is $34.23 and its 200-day simple moving average is $31.20.

NiSource (NYSE:NI) last released its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. Analysts predict that NiSource Inc. will post 1.73 EPS for the current year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a yield of 3.01%. NiSource’s dividend payout ratio (DPR) is presently 64.24%.

Institutional Investors Weigh In On NiSource

Hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of NiSource in the 2nd quarter valued at $25,000. MCF Advisors LLC acquired a new stake in shares of NiSource in the 2nd quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in shares of NiSource in the 3rd quarter valued at $33,000. Crewe Advisors LLC acquired a new stake in shares of NiSource in the 1st quarter valued at $31,000. Finally, Friedenthal Financial acquired a new stake in shares of NiSource in the 3rd quarter valued at $50,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.