NiSource Inc. (NYSE:NI) Given Average Rating of “Buy” by Brokerages

Shares of NiSource Inc. (NYSE:NI) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $38.13.

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

Insider Activity at NiSource

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction dated 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 owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NiSource

Several hedge funds have recently made changes to their positions in NI. Blue Trust Inc. grew its holdings in shares of NiSource by 31.6% during the third quarter. Blue Trust Inc. now owns 4,598 shares of the utilities provider’s stock worth $159,000 after purchasing an additional 1,105 shares during the last quarter. Raymond James & Associates boosted its stake in shares of NiSource by 6.5% during the third quarter. Raymond James & Associates now owns 436,224 shares of the utilities provider’s stock worth $15,115,000 after buying an additional 26,572 shares during the period. International Assets Investment Management LLC boosted its stake in shares of NiSource by 249.6% during the third quarter. International Assets Investment Management LLC now owns 30,908 shares of the utilities provider’s stock worth $1,071,000 after buying an additional 22,066 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in shares of NiSource by 27.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 61,251 shares of the utilities provider’s stock worth $2,122,000 after buying an additional 13,171 shares during the period. Finally, Ausbil Investment Management Ltd acquired a new stake in shares of NiSource during the third quarter worth about $6,871,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Down 0.3 %

NYSE:NI opened at $39.97 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average is $37.35 and its two-hundred day moving average is $35.54. NiSource has a 52 week low of $25.45 and a 52 week high of $40.15. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.56 and a beta of 0.54.

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 the consensus estimate 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 firm earned $0.53 earnings per share. Research analysts anticipate that NiSource will post 1.91 EPS for the current year.

NiSource Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, February 3rd. This is a positive change from NiSource’s previous quarterly dividend of $0.27. NiSource’s dividend payout ratio is 69.14%.

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.