NiSource Inc. (NYSE:NI) Receives $38.13 Average Price Target from Brokerages

Shares of NiSource Inc. (NYSE:NI) have earned an average recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.13.

Several brokerages have commented on NI. Mizuho raised their price objective on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group began coverage on shares of NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th.

Insider Buying and Selling

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the sale, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Institutional Trading of NiSource

Several institutional investors and hedge funds have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan purchased a new position in NiSource during the 4th quarter valued at approximately $27,000. Brooklyn Investment Group grew its holdings in shares of NiSource by 153.2% in the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 527 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in NiSource in the third quarter worth $33,000. Spire Wealth Management purchased a new stake in NiSource during the fourth quarter valued at $39,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in NiSource during the fourth quarter valued at $40,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Stock Up 0.3 %

NI opened at $40.09 on Friday. NiSource has a 12 month low of $25.59 and a 12 month high of $40.22. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $37.42 and its 200-day moving average price is $35.67. The company has a market cap of $18.84 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.56 and a beta of 0.54.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities analysts expect that NiSource will post 1.91 EPS for the current year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.79%. This is a positive change from NiSource’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 3rd. NiSource’s dividend payout ratio is 69.14%.

About NiSource

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.