NiSource (NI) online rating reaffirmed at Evercore ISI
NiSource (NYSE: NI)The title of the action had its “online” rating reaffirmed by Evercore ISI in a report released Thursday, Analysts’ price targets reports. They currently have a price target of $ 27.00 on the utility’s stock, up from their previous price target of $ 25.00. Evercore ISI’s target price indicates a potential rise of 5.43% from the current share price.
NI has been the subject of several other research reports. The Goldman Sachs Group downgraded NiSource from a “buy” rating to a “neutral” rating and lowered its price target for the company from $ 27.00 to $ 25.00 in a Thursday, Jan. 28 report. TheStreet upgraded NiSource from a “c” grade to a “b-” grade in a research note on Thursday, April 22. Zacks investment research downgraded NiSource from a “buy” rating to a “maintain” rating and set a price target of $ 27.00 for the company. in a report of Thursday, April 15. UBS Group upgraded NiSource’s shares from a “neutral” rating to a “buy” rating and set a price target of $ 27.00 for the company in a research report on Monday, March 29. Finally, Credit Suisse Group raised its price target on NiSource shares from $ 28.00 to $ 29.00 and assigned the stock an “outperformance” rating in a research note on Thursday, April 22. Four research analysts rated the stock with a sustaining rating and six gave the company’s stock a buy rating. NiSource has a consensus rating of “Buy” and an average price target of $ 26.20.
NYSE: NI open for $ 25.61 Thursday. The company has a current ratio of 0.82, a quick ratio of 0.70, and a debt ratio of 2.03. The stock has a 50-day moving average price of $ 24.30 and a two-hundred-day moving average price of $ 23.29. NiSource has a one-year low of $ 21.09 and a one-year high of $ 27.24. The stock has a market cap of $ 10.04 billion, a price-to-earnings ratio of -32.42, a PEG ratio of 2.97 and a beta of 0.24.
NiSource (NYSE: NI) last released its quarterly earnings data on Wednesday, February 17. The utility provider reported earnings per share (EPS) of $ 0.34 for the quarter, beating the Zacks consensus estimate of $ 0.33 by $ 0.01. The company posted revenue of $ 1.21 billion in the quarter, compared to a consensus estimate of $ 1.48 billion. NiSource posted a positive return on equity of 11.63% and a negative net margin of 4.96%. During the same period last year, the company achieved earnings per share of $ 0.45. Business analysts predict that NiSource will post 1.28 earnings per share for the current year.
In addition, COO Pablo Vegas sold 5,616 shares of the company in a transaction that took place on Monday March 1. The shares were sold for an average price of $ 21.84, for a total value of $ 122,653.44. Following the closing of the transaction, the COO now directly owns 106,608 shares of the company, valued at approximately $ 2,328,318.72. The sale was disclosed in a filing with the Securities & Exchange Commission, available through this link. Additionally, SVP Michael Hooper sold 5,000 shares of the company’s stock in a trade that took place on Thursday, March 11. The stock was sold at an average price of $ 22.23, for a total trade of $ 111,150.00. 0.35% of the shares are held by insiders of the company.
Hedge funds recently changed their stakes in the company. JPMorgan Chase & Co. increased its holdings of NiSource shares by 110.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,568,825 shares of the utility company valued at $ 35,990,000 after purchasing an additional 821,829 shares in the last quarter. ProShare Advisors LLC increased its stake in NiSource by 10.4% in the fourth quarter. ProShare Advisors LLC now owns 49,316 shares of the utility provider valued at $ 1,131,000 after acquiring an additional 4,646 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of NiSource in the fourth quarter valued at approximately $ 32,000. Janus Henderson Group PLC strengthened its position in NiSource by 1.6% in the fourth quarter. Janus Henderson Group PLC now owns 165,117 shares of the utility company valued at $ 3,787,000 after purchasing an additional 2,565 shares in the last quarter. Finally, Cibc World Markets Corp increased its position in NiSource by 53.1% in the 4th quarter. Cibc World Markets Corp now owns 70,611 shares of the utility provider valued at $ 1,620,000 after acquiring an additional 24,489 shares in the last quarter. 92.91% of the shares are currently held by hedge funds and other institutional investors.
NiSource Company Profile
NiSource, Inc is a holding company that engages in energy solutions. Through its subsidiaries, it supplies natural gas, electricity and other products and services. It operates through the following segments: Gas Distribution Operations and Electrical Operations. The Gas Distribution Operations segment focuses on the service and transportation of natural gas for residential, commercial and industrial customers.
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