NiSource (NYSE:NI) Reaches New 52-Week High at $34.57

Shares of NiSource Inc. (NYSE:NI) hit a new 52-week high on Monday . The company traded as high as $34.57 and last traded at $34.45, with a volume of 56613 shares trading hands. The stock had previously closed at $34.38.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NI. Barclays increased their target price on shares of NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Evercore ISI increased their price objective on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Bank of America initiated coverage on NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price for the company. Mizuho began coverage on NiSource in a report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price target on the stock. Finally, BMO Capital Markets increased their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

NiSource Stock Performance

The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.86 and a beta of 0.51. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The stock has a 50 day simple moving average of $32.72 and a two-hundred day simple moving average of $29.88.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the previous year, the business earned $0.11 earnings per share. As a group, analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, October 31st. NiSource’s dividend payout ratio (DPR) is 69.28%.

Institutional Investors Weigh In On NiSource

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MCF Advisors LLC acquired a new stake in shares of NiSource during the second quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in NiSource during the second quarter worth approximately $25,000. First Financial Corp IN purchased a new stake in NiSource in the first quarter valued at approximately $31,000. Crewe Advisors LLC acquired a new stake in shares of NiSource in the first quarter valued at approximately $31,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of NiSource during the first quarter worth approximately $43,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

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.