Several other equities research analysts have also recently weighed in on NI. Zacks Investment Research upgraded NiSource from a sell rating to a hold rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on NiSource from $28.00 to $25.00 and set a neutral rating for the company in a research note on Thursday, January 25th. Jefferies Group restated a hold rating and set a $26.00 target price on shares of NiSource in a research note on Wednesday, December 20th. Edward Jones upgraded NiSource from a hold rating to a buy rating in a research note on Tuesday, January 9th. Finally, Citigroup boosted their target price on NiSource from $28.00 to $31.00 and gave the stock a buy rating in a research note on Monday, November 20th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $27.13.
Shares of NiSource (NYSE:NI) traded up $0.52 during trading on Friday, hitting $23.60. The stock had a trading volume of 3,767,857 shares, compared to its average volume of 3,857,523. NiSource has a 1-year low of $22.44 and a 1-year high of $27.76. The firm has a market capitalization of $7,787.44, a P/E ratio of 60.51, a PEG ratio of 3.07 and a beta of 0.24. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.32 and a current ratio of 0.55.
NiSource (NYSE:NI) last announced its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. NiSource had a return on equity of 8.90% and a net margin of 2.64%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the company posted $0.33 earnings per share. analysts forecast that NiSource will post 1.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were paid a $0.195 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.78 dividend on an annualized basis and a yield of 3.31%. This is a boost from NiSource’s previous quarterly dividend of $0.18. NiSource’s payout ratio is currently 200.01%.
A number of hedge funds and other institutional investors have recently modified their holdings of NI. Electron Capital Partners LLC purchased a new stake in NiSource in the fourth quarter valued at approximately $36,258,000. Cohen & Steers Inc. lifted its stake in NiSource by 98.7% in the third quarter. Cohen & Steers Inc. now owns 2,256,420 shares of the utilities provider’s stock valued at $57,742,000 after buying an additional 1,120,910 shares during the last quarter. BlackRock Inc. lifted its stake in NiSource by 4.6% in the fourth quarter. BlackRock Inc. now owns 24,779,376 shares of the utilities provider’s stock valued at $636,086,000 after buying an additional 1,093,752 shares during the last quarter. Millennium Management LLC lifted its stake in NiSource by 38.6% in the fourth quarter. Millennium Management LLC now owns 3,591,733 shares of the utilities provider’s stock valued at $92,200,000 after buying an additional 999,678 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in NiSource by 69.1% in the fourth quarter. Schroder Investment Management Group now owns 2,344,411 shares of the utilities provider’s stock valued at $60,181,000 after buying an additional 958,344 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.
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NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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