BMO Capital Markets Issues Positive Forecast for NiSource (NYSE:NI) Stock Price

NiSource (NYSE:NI) had its price target increased by BMO Capital Markets from $42.00 to $43.00 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

NI has been the topic of a number of other reports. JPMorgan Chase & Co. upped their price target on NiSource from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Mizuho increased their target price on NiSource from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, March 26th. UBS Group lifted their price target on shares of NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Barclays lifted their price target on shares of NiSource from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price target 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, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $41.11.

NiSource Stock Up 0.8 %

Shares of NYSE:NI opened at $39.76 on Monday. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.56 and a beta of 0.48. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41. The business’s 50-day moving average is $39.24 and its 200-day moving average is $37.62. NiSource has a 1 year low of $27.46 and a 1 year high of $41.45.

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

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, April 30th. NiSource’s dividend payout ratio (DPR) is presently 69.14%.

Insider Buying and Selling at NiSource

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction 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 trade represents a 18.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On NiSource

A number of hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its stake in shares of NiSource by 1.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider’s stock worth $514,000 after purchasing an additional 256 shares during the period. Resonant Capital Advisors LLC raised its stake in NiSource by 3.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 7,448 shares of the utilities provider’s stock valued at $299,000 after acquiring an additional 277 shares during the period. Securian Asset Management Inc. raised its stake in NiSource by 1.1% in the 4th quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider’s stock valued at $922,000 after acquiring an additional 282 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its stake in NiSource by 4.2% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider’s stock valued at $268,000 after acquiring an additional 291 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in NiSource by 64.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 299 shares during the period. 91.64% of the stock is currently owned by institutional investors.

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.