UBS Group Raises NiSource (NYSE:NI) Price Target to $45.00

NiSource (NYSE:NI) had its target price raised by UBS Group from $40.00 to $45.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a buy rating on the utilities provider’s stock.

Separately, 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 research report on Thursday, February 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NiSource currently has an average rating of “Buy” and a consensus price target of $38.89.

NiSource Stock Down 1.0 %

Shares of NiSource stock opened at $39.18 on Friday. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.56 and a beta of 0.50. NiSource has a twelve month low of $26.26 and a twelve month high of $41.45. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The business’s 50 day simple moving average is $38.67 and its 200-day simple moving average is $36.67.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share 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 last year, the business earned $0.53 earnings per share. Equities research analysts forecast that NiSource will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.86%. NiSource’s dividend payout ratio is presently 69.14%.

Insider Buying and Selling at NiSource

In other news, CAO Gunnar Gode sold 5,500 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the sale, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. The trade was a 18.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its holdings in NiSource by 1.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider’s stock valued at $514,000 after acquiring an additional 256 shares during the last quarter. Securian Asset Management Inc. grew its position in NiSource by 1.1% in the fourth quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider’s stock worth $922,000 after buying an additional 282 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of NiSource by 4.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider’s stock valued at $268,000 after buying an additional 291 shares in the last quarter. Aviso Financial Inc. increased its holdings in shares of NiSource by 1.0% in the fourth quarter. Aviso Financial Inc. now owns 31,450 shares of the utilities provider’s stock valued at $1,156,000 after buying an additional 300 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of NiSource by 5.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 5,648 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 300 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.