NiSource (NYSE:NI) Sets New 52-Week High at $34.56

Shares of NiSource Inc. (NYSE:NI) reached a new 52-week high on Tuesday . The stock traded as high as $34.56 and last traded at $34.41, with a volume of 590885 shares traded. The stock had previously closed at $34.27.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BMO Capital Markets upped their price objective on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Barclays increased their target price on NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Evercore ISI increased their target price on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America assumed coverage on NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. Finally, Mizuho assumed coverage on NiSource in a research note on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, NiSource has an average rating of “Moderate Buy” and an average price target of $32.43.

NiSource Trading Down 0.0 %

The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.25 and a beta of 0.51. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average of $32.26 and a 200-day moving average of $29.56.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the previous year, the firm earned $0.11 earnings per share. As a group, research analysts forecast that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource’s payout ratio is 69.28%.

Institutional Investors Weigh In On NiSource

Institutional investors have recently added to or reduced their stakes in the stock. Zimmer Partners LP boosted its holdings in shares of NiSource by 146.2% in the 1st quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock worth $246,388,000 after acquiring an additional 5,290,322 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in NiSource by 123.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 5,593,854 shares of the utilities provider’s stock worth $148,517,000 after buying an additional 3,092,138 shares in the last quarter. Norges Bank acquired a new position in NiSource during the 4th quarter worth $70,090,000. Vanguard Group Inc. lifted its holdings in NiSource by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 53,955,258 shares of the utilities provider’s stock worth $1,432,512,000 after buying an additional 1,850,842 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in NiSource by 3,195.5% during the 4th quarter. 1832 Asset Management L.P. now owns 1,811,447 shares of the utilities provider’s stock worth $48,094,000 after buying an additional 1,756,480 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.