Wells Fargo & Company assumed coverage on shares of NiSource, Inc (NYSE:NI) in a research note published on Wednesday, August 9th, Marketbeat Ratings reports. The firm issued an outperform rating and a $30.00 price objective on the utilities provider’s stock.
A number of other equities research analysts have also issued reports on NI. Zacks Investment Research lowered NiSource from a buy rating to a hold rating in a research report on Thursday, May 25th. Jefferies Group LLC reiterated a hold rating and issued a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. Barclays PLC reiterated an equal weight rating and issued a $26.00 price objective (up from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Ladenburg Thalmann Financial Services initiated coverage on NiSource in a research report on Friday, May 19th. They issued a buy rating and a $27.00 price objective for the company. Finally, Zelman & Associates lowered NiSource from a buy rating to a hold rating in a research report on Tuesday, May 30th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $26.33.
Shares of NiSource (NI) opened at 26.79 on Wednesday. NiSource has a 1-year low of $21.17 and a 1-year high of $27.02. The company has a market capitalization of $8.73 billion, a PE ratio of 31.08 and a beta of 0.37. The stock’s 50 day moving average price is $26.03 and its 200-day moving average price is $24.66.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. NiSource had a return on equity of 9.17% and a net margin of 5.96%. During the same period in the prior year, the business earned $0.09 earnings per share. On average, equities analysts predict that NiSource will post $1.19 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, October 30th. NiSource’s dividend payout ratio (DPR) is 81.40%.
In related news, Director Michael E. Jesanis acquired 2,000 shares of NiSource stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Donald Eugene Brown sold 6,906 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the sale, the chief financial officer now owns 141,168 shares in the company, valued at $3,601,195.68. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. boosted its stake in NiSource by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 284,065 shares of the utilities provider’s stock worth $6,758,000 after buying an additional 8,779 shares in the last quarter. Creative Planning boosted its stake in NiSource by 9.7% in the first quarter. Creative Planning now owns 31,059 shares of the utilities provider’s stock worth $739,000 after buying an additional 2,737 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in NiSource by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 107,050 shares of the utilities provider’s stock worth $2,546,000 after buying an additional 1,850 shares in the last quarter. Bank of Montreal Can boosted its stake in NiSource by 5.9% in the first quarter. Bank of Montreal Can now owns 453,904 shares of the utilities provider’s stock worth $10,799,000 after buying an additional 25,271 shares in the last quarter. Finally, Private Trust Co. NA acquired a new stake in NiSource during the first quarter worth $252,000. Institutional investors own 82.21% of the company’s stock.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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