NiSource Inc. (NYSE:NI) Receives $37.50 Average PT from Analysts

Shares of NiSource Inc. (NYSE:NI) have earned an average rating of “Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $37.50.

NI has been the topic of a number of recent research reports. Barclays increased their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Mizuho raised their price objective on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on shares of NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price objective for the company.

Hedge Funds Weigh In On NiSource

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in NiSource by 88.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after acquiring an additional 6,991,608 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of NiSource by 53.3% in the third quarter. Bank of Montreal Can now owns 5,124,909 shares of the utilities provider’s stock worth $176,194,000 after purchasing an additional 1,782,078 shares during the last quarter. State Street Corp lifted its position in shares of NiSource by 5.8% in the third quarter. State Street Corp now owns 22,691,174 shares of the utilities provider’s stock worth $786,249,000 after buying an additional 1,247,368 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in NiSource during the third quarter valued at approximately $32,162,000. Finally, AQR Capital Management LLC grew its holdings in NiSource by 118.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,616,189 shares of the utilities provider’s stock valued at $46,449,000 after buying an additional 876,033 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Performance

Shares of NI opened at $37.33 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The stock has a market cap of $17.42 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.40 and a beta of 0.54. The business’s 50 day moving average price is $36.95 and its 200-day moving average price is $34.84. NiSource has a 52 week low of $24.80 and a 52 week high of $38.83.

NiSource Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.00%. This is a boost from NiSource’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, February 3rd. NiSource’s dividend payout ratio is presently 67.88%.

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.