NiSource Inc. (NYSE:NI) Receives $37.50 Consensus Target Price from Brokerages

NiSource Inc. (NYSE:NI) has been given a consensus rating of “Buy” by the eight analysts that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.50.

NI has been the subject of a number of analyst reports. Evercore ISI raised their price objective on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Mizuho lifted their target price on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Barclays raised their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

NiSource Price Performance

Shares of NI stock opened at $36.57 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. NiSource has a twelve month low of $24.80 and a twelve month high of $36.74. The company has a market cap of $17.07 billion, a P/E ratio of 22.16, a P/E/G ratio of 3.01 and a beta of 0.51. The business has a fifty day simple moving average of $34.67 and a 200 day simple moving average of $31.59.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that NiSource will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zimmer Partners LP increased its position in NiSource by 146.2% during the 1st quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock valued at $246,388,000 after buying an additional 5,290,322 shares in the last quarter. Bank of Montreal Can boosted its stake in NiSource by 53.3% during the 3rd quarter. Bank of Montreal Can now owns 5,124,909 shares of the utilities provider’s stock valued at $176,194,000 after purchasing an additional 1,782,078 shares during the last quarter. State Street Corp boosted its stake in NiSource by 5.8% during the 3rd quarter. State Street Corp now owns 22,691,174 shares of the utilities provider’s stock valued at $786,249,000 after purchasing an additional 1,247,368 shares during the last quarter. Vaughan David Investments LLC IL purchased a new stake in NiSource during the 1st quarter valued at $34,419,000. Finally, Vanguard Group Inc. boosted its stake in shares of NiSource by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 54,946,594 shares of the utilities provider’s stock worth $1,519,823,000 after buying an additional 991,336 shares during the last quarter. Institutional investors own 91.64% 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. 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.