NiSource Inc. (NYSE:NI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of NiSource Inc. (NYSE:NI) have received a consensus rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.43.

Several research firms have commented on NI. Evercore ISI lifted their target price on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Barclays boosted their price objective on shares of NiSource from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Mizuho assumed coverage on NiSource in a report on Thursday, July 11th. They set an “outperform” rating and a $33.00 target price for the company. BMO Capital Markets upped their price target on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Bank of America assumed coverage on shares of NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price objective for the company.

NiSource Stock Up 0.6 %

Shares of NYSE NI opened at $34.27 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The firm’s 50-day moving average is $32.26 and its two-hundred day moving average is $29.56. NiSource has a 12-month low of $22.86 and a 12-month high of $34.49. The company has a market capitalization of $15.36 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.25 and a beta of 0.51.

NiSource (NYSE:NI) last released 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. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. Equities analysts anticipate that NiSource will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, October 31st. NiSource’s dividend payout ratio (DPR) is 69.28%.

Institutional Investors Weigh In On NiSource

A number of hedge funds and other institutional investors have recently made changes to their positions in NI. MCF Advisors LLC bought a new stake in shares of NiSource in the second quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new position in NiSource during the 2nd quarter worth $25,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter valued at $31,000. Crewe Advisors LLC bought a new position in NiSource in the first quarter valued at about $31,000. Finally, Fidelis Capital Partners LLC acquired a new stake in NiSource in the first quarter worth about $43,000. 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.