NiSource (NYSE:NI) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of NiSource (NYSE:NI) from a hold rating to a sell rating in a research report report published on Sunday morning,Wall Street Zen reports.

Several other research analysts also recently commented on the stock. Citigroup reissued a “buy” rating on shares of NiSource in a report on Wednesday, October 21st. Mizuho reduced their target price on NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Barclays dropped their price target on NiSource from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. HSBC began coverage on NiSource in a report on Thursday, October 22nd. They issued a “buy” rating and a $49.50 price objective for the company. Finally, LADENBURG THALM/SH SH reduced their price objective on NiSource from $51.50 to $51.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, NiSource currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

NiSource Trading Up 0.6%

Shares of NI opened at $45.33 on Friday. NiSource has a twelve month low of $38.42 and a twelve month high of $49.21. The stock has a market cap of $21.74 billion, a PE ratio of 23.25, a P/E/G ratio of 3.34 and a beta of 0.53. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 1.37. The business’s 50-day moving average price is $41.77 and its 200-day moving average price is $44.88.

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

Insiders Place Their Bets

In related news, CFO Shawn Anderson sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $45.58, for a total value of $296,270.00. Following the sale, the chief financial officer owned 153,580 shares in the company, valued at approximately $7,000,176.40. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Melody Birmingham sold 37,509 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares of the company’s stock, valued at $3,329,544.80. This trade represents a 32.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,509 shares of company stock valued at $2,179,152. Corporate insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC increased its stake in NiSource by 46.6% in the 3rd quarter. Private Advisor Group LLC now owns 15,361 shares of the utilities provider’s stock worth $599,000 after buying an additional 4,885 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of NiSource during the third quarter worth about $405,000. Focus Advisor Solutions LLC bought a new stake in NiSource during the 3rd quarter valued at approximately $948,000. Independent Advisor Alliance raised its stake in NiSource by 15.7% during the 3rd quarter. Independent Advisor Alliance now owns 4,913 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 666 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in NiSource during the 3rd quarter valued at approximately $230,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About NiSource

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.