NiSource Inc. (NYSE:NI)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group LLC in a research note issued to investors on Friday. They currently have a $23.00 target price on the stock. Jefferies Group LLC’s price target would indicate a potential downside of 3.32% from the stock’s previous close.
Several other analysts have also recently weighed in on the stock. Guggenheim upgraded shares of NiSource from a “neutral” rating to a “buy” rating in a report on Monday, January 9th. Citigroup Inc upgraded shares of NiSource from a “neutral” rating to a “buy” rating in a report on Wednesday, December 14th. Zacks Investment Research upgraded shares of NiSource from a “sell” rating to a “hold” rating and set a $26.00 price target on the stock in a report on Friday, March 10th. Finally, Goldman Sachs Group Inc initiated coverage on shares of NiSource in a report on Thursday, December 15th. They issued a “neutral” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. NiSource presently has an average rating of “Hold” and an average price target of $25.09.
NiSource (NYSE:NI) traded up 0.85% during mid-day trading on Friday, hitting $23.79. 2,072,368 shares of the stock traded hands. The firm has a market cap of $7.69 billion, a P/E ratio of 23.30 and a beta of 0.29. NiSource has a 52-week low of $21.17 and a 52-week high of $26.94. The firm’s 50-day moving average is $23.35 and its 200 day moving average is $22.75.
NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.01. NiSource had a net margin of 6.87% and a return on equity of 8.76%. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities analysts predict that NiSource will post $1.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Friday, April 28th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Wednesday, April 26th. NiSource’s dividend payout ratio is currently 76.09%.
In other NiSource news, VP Joseph W. Mulpas sold 13,000 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $23.28, for a total transaction of $302,640.00. Following the completion of the transaction, the vice president now owns 37,889 shares of the company’s stock, valued at $882,055.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Jesanis acquired 12,000 shares of the stock in a transaction on Monday, January 9th. The shares were purchased at an average cost of $22.53 per share, with a total value of $270,360.00. Following the transaction, the director now directly owns 26,725 shares of the company’s stock, valued at approximately $602,114.25. The disclosure for this purchase can be found here. Company insiders own 0.32% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. WFG Advisors LP raised its position in NiSource by 14,596.4% in the fourth quarter. WFG Advisors LP now owns 4,115 shares of the company’s stock valued at $104,000 after buying an additional 4,087 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in NiSource by 0.5% in the third quarter. TCI Wealth Advisors Inc. now owns 4,694 shares of the company’s stock valued at $113,000 after buying an additional 23 shares in the last quarter. Financial Architects Inc raised its position in NiSource by 4,163.5% in the third quarter. Financial Architects Inc now owns 4,903 shares of the company’s stock valued at $118,000 after buying an additional 4,788 shares in the last quarter. Global X Management Co. LLC raised its position in NiSource by 69.9% in the third quarter. Global X Management Co. LLC now owns 6,250 shares of the company’s stock valued at $151,000 after buying an additional 2,571 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in NiSource by 2.8% in the third quarter. Wedbush Securities Inc. now owns 8,458 shares of the company’s stock valued at $204,000 after buying an additional 228 shares in the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.
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.