NiSource Inc. (NYSE:NI) Receives Average Rating of “Buy” from Analysts

Shares of NiSource Inc. (NYSE:NI) have been given an average rating of “Buy” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $39.33.

Several research analysts recently weighed in on the company. UBS Group raised their target price on NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their price objective on shares of NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Mizuho increased their target price on shares of NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, March 26th.

NiSource Stock Up 0.7 %

NI stock opened at $39.21 on Friday. The firm’s 50-day moving average is $39.29 and its two-hundred day moving average is $37.37. 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 company has a market capitalization of $18.45 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.56 and a beta of 0.48. NiSource has a 52 week low of $27.46 and a 52 week high of $41.45.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted $0.53 EPS. On average, analysts forecast that NiSource will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, April 30th. NiSource’s payout ratio is 69.14%.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the sale, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NI. JPMorgan Chase & Co. raised its position in NiSource by 88.4% during the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after acquiring an additional 6,991,608 shares in the last quarter. Millennium Management LLC increased its stake in shares of NiSource by 185.0% during the 4th quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider’s stock worth $339,837,000 after purchasing an additional 6,001,486 shares during the last quarter. Capital International Investors bought a new position in shares of NiSource during the 4th quarter valued at $219,977,000. Norges Bank acquired a new stake in shares of NiSource in the 4th quarter valued at $195,745,000. Finally, Invesco Ltd. boosted its holdings in NiSource by 49.5% in the fourth quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider’s stock worth $301,427,000 after purchasing an additional 2,714,262 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.