NiSource, Inc (NYSE:NI) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of NiSource, Inc (NYSE:NI) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $48.58.

NI has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on NiSource from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Scotiabank started coverage on NiSource in a report on Tuesday, September 29th. They issued a “sector perform” rating and a $43.00 price objective for the company. Weiss Ratings lowered NiSource from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 22nd. Mizuho lowered their price objective on NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Finally, LADENBURG THALM/SH SH lowered their price objective on NiSource from $51.50 to $51.00 and set a “buy” rating on the stock in a research note on Monday, August 17th.

NiSource Trading Down 0.8%

NYSE:NI opened at $44.10 on Friday. NiSource has a 12 month low of $38.42 and a 12 month high of $49.21. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.37. The firm’s 50 day moving average is $41.59 and its 200 day moving average is $44.87. The stock has a market capitalization of $21.16 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. NiSource had a return on equity of 8.16% and a net margin of 13.56%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $0.19 earnings per share. Sell-side analysts expect that NiSource will post 2.06 earnings per share for the current year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. NiSource’s dividend payout ratio (DPR) is presently 61.54%.

Insider Activity

In related news, EVP Melody Birmingham sold 37,509 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the sale, the executive vice president directly owned 78,527 shares in the company, valued at approximately $3,329,544.80. This represents a 32.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shawn Anderson sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $45.00, for a total transaction of $292,500.00. Following the sale, the chief financial officer owned 160,080 shares in the company, valued at $7,203,600. The trade was a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On NiSource

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of NiSource during the second quarter worth $2,613,234,000. Deutsche Bank AG purchased a new position in shares of NiSource in the second quarter valued at $574,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of NiSource by 4.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,381,989 shares of the utilities provider’s stock valued at $208,364,000 after purchasing an additional 183,321 shares during the period. Legal & General Group Plc bought a new stake in shares of NiSource during the 2nd quarter valued at $179,838,000. Finally, Bank of America Corp DE bought a new stake in shares of NiSource during the 2nd quarter valued at $172,516,000. Institutional investors own 91.64% of the company’s stock.

NiSource Company Profile

NiSource Inc is a regulated energy holding company that delivers natural gas and electricity through its local utility subsidiaries. Its businesses focus on operating and maintaining energy infrastructure and providing service to residential, commercial and industrial customers.

The company’s natural gas utilities serve customers in Indiana, Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana.

NiSource traces its roots to Northern Indiana Public Service Company, established in 1912.