Analysts Set NiSource Inc. (NYSE:NI) Target Price at $38.13

NiSource Inc. (NYSE:NI) has been given an average recommendation of “Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $38.89.

A number of research firms have recently commented on NI. Wells Fargo & Company boosted 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. UBS Group lifted their price objective on NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday.

NiSource Trading Up 1.6 %

Shares of NI opened at $39.84 on Tuesday. NiSource has a fifty-two week low of $26.26 and a fifty-two week high of $41.45. The business has a 50-day moving average of $38.74 and a 200 day moving average of $36.72. The firm has a market cap of $18.72 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51.

NiSource (NYSE:NI) last issued its earnings results 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 quarter in the prior year, the firm posted $0.53 EPS. As a group, research analysts forecast that NiSource will post 1.91 EPS for the current year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.81%. NiSource’s dividend payout ratio (DPR) is 69.14%.

Insider Buying and Selling

In related news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at $988,339.36. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NiSource

Institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC increased its stake in shares of NiSource by 1.9% in 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 in the last quarter. Securian Asset Management Inc. grew its holdings in NiSource by 1.1% during the fourth quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider’s stock valued at $922,000 after purchasing an additional 282 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its position in NiSource by 4.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider’s stock worth $268,000 after buying an additional 291 shares in the last quarter. Aviso Financial Inc. raised its stake in shares of NiSource by 1.0% in the fourth quarter. Aviso Financial Inc. now owns 31,450 shares of the utilities provider’s stock worth $1,156,000 after buying an additional 300 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of NiSource by 5.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 5,648 shares of the utilities provider’s stock valued at $207,000 after buying an additional 300 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other 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.