NiSource Inc. (NYSE:NI) Receives $38.13 Average Target Price from Analysts

Shares of NiSource Inc. (NYSE:NI) have received an average recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $38.13.

Several brokerages have issued reports on NI. Mizuho increased their target price on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group started coverage on shares of NiSource in a research note on Monday, October 28th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, February 13th.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the transaction, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NiSource

Several large investors have recently added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan acquired a new position in NiSource during the 4th quarter worth $27,000. Brooklyn Investment Group boosted its stake in shares of NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock valued at $32,000 after buying an additional 527 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of NiSource during the third quarter worth about $33,000. Spire Wealth Management purchased a new stake in shares of NiSource during the fourth quarter worth approximately $39,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in NiSource in the fourth quarter valued at approximately $40,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

Shares of NYSE:NI opened at $40.09 on Friday. The firm’s 50 day simple moving average is $37.42 and its 200-day simple moving average is $35.67. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. NiSource has a one year low of $25.59 and a one year high of $40.22. The firm has a market cap of $18.84 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.56 and a beta of 0.54.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities analysts predict that NiSource will post 1.91 EPS for the current year.

NiSource Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd were issued a $0.28 dividend. This is a boost from NiSource’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.79%. The ex-dividend date was Monday, February 3rd. NiSource’s dividend payout ratio is presently 69.14%.

About NiSource

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.