NiSource (NYSE:NI) had its price objective dropped by Barclays from $31.00 to $24.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would indicate a potential downside of 0.66% from the company’s current price.
A number of other equities research analysts have also recently commented on NI. UBS Group decreased their price target on NiSource from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. Wolfe Research raised NiSource from a “peer perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Wednesday, January 15th. BMO Capital Markets initiated coverage on NiSource in a report on Wednesday, February 19th. They set an “outperform” rating and a $32.00 price target on the stock. Bank of America raised NiSource from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Tuesday, January 7th. Finally, Evercore ISI raised NiSource from an “in-line” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.75.
NiSource stock traded up $1.33 during trading on Thursday, reaching $24.16. The company had a trading volume of 328,689 shares, compared to its average volume of 6,079,623. NiSource has a 52 week low of $19.56 and a 52 week high of $30.67. The firm’s 50-day simple moving average is $27.44 and its 200 day simple moving average is $27.87. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.36 and a beta of 0.30. The company has a current ratio of 0.49, a quick ratio of 0.38 and a debt-to-equity ratio of 1.54.
NiSource (NYSE:NI) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. NiSource had a return on equity of 10.13% and a net margin of 7.37%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.51 billion. On average, analysts predict that NiSource will post 1.34 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NI. Ilmarinen Mutual Pension Insurance Co purchased a new position in NiSource in the third quarter worth about $1,376,000. State Street Corp grew its position in NiSource by 2.7% in the third quarter. State Street Corp now owns 19,134,303 shares of the utilities provider’s stock worth $572,498,000 after acquiring an additional 499,607 shares in the last quarter. Neo Ivy Capital Management grew its position in NiSource by 1,885.8% in the third quarter. Neo Ivy Capital Management now owns 21,625 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 20,536 shares in the last quarter. Virtu Financial LLC purchased a new position in NiSource in the third quarter worth about $267,000. Finally, Pictet Asset Management Ltd. grew its position in NiSource by 9.4% in the third quarter. Pictet Asset Management Ltd. now owns 1,655,613 shares of the utilities provider’s stock worth $49,536,000 after acquiring an additional 142,709 shares in the last quarter. Institutional investors own 90.78% 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. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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