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

Shares of NiSource Inc. (NYSE:NI) have been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have covered the stock in the last year is $37.50.

A number of research firms have recently weighed in on NI. Mizuho upped their price target on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays upped their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets raised their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th.

NiSource Stock Up 0.1 %

NI stock opened at $36.39 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The firm’s 50-day simple moving average is $36.50 and its 200 day simple moving average is $33.68. The stock has a market cap of $16.99 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.84 and a beta of 0.54. NiSource has a fifty-two week low of $24.80 and a fifty-two week high of $38.56.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. As a group, sell-side analysts predict that NiSource will post 1.73 EPS for the current year.

Institutional Trading of NiSource

A number of hedge funds have recently modified their holdings of NI. ING Groep NV acquired a new stake in NiSource in the 3rd quarter worth about $748,000. JPMorgan Chase & Co. grew its holdings in shares of NiSource by 88.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock worth $516,373,000 after purchasing an additional 6,991,608 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of NiSource in the third quarter worth $3,068,000. TD Asset Management Inc raised its stake in NiSource by 8.4% in the second quarter. TD Asset Management Inc now owns 1,865,926 shares of the utilities provider’s stock valued at $53,757,000 after purchasing an additional 144,197 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in NiSource during the third quarter worth about $798,000. Institutional investors and hedge funds 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.