Mizuho Raises NiSource (NYSE:NI) Price Target to $44.00

NiSource (NYSE:NI) had its target price lifted by Mizuho from $42.00 to $44.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price objective suggests a potential upside of 10.67% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company lifted their price target on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. UBS Group lifted their target price on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $39.33.

NiSource Price Performance

Shares of NYSE NI opened at $39.76 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. The firm has a market cap of $18.68 billion, a PE ratio of 24.54, a PEG ratio of 2.56 and a beta of 0.50. NiSource has a one year low of $26.26 and a one year high of $41.45. The firm has a fifty day moving average of $38.89 and a 200 day moving average of $36.80.

NiSource (NYSE:NI) last released its quarterly 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 quarter last year, the company posted $0.53 EPS. As a group, research analysts predict that NiSource will post 1.91 EPS for the current fiscal year.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NiSource

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of NiSource by 88.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock worth $516,373,000 after acquiring an additional 6,991,608 shares during the last quarter. Millennium Management LLC raised its position in NiSource by 185.0% in the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider’s stock valued at $339,837,000 after purchasing an additional 6,001,486 shares during the period. Capital International Investors acquired a new position in NiSource during the fourth quarter worth $219,977,000. Norges Bank purchased a new position in shares of NiSource during the fourth quarter worth $195,745,000. Finally, Invesco Ltd. grew its stake in shares of NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider’s stock valued at $301,427,000 after buying an additional 2,714,262 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.