NiSource (NYSE:NI) Hits New 52-Week High at $34.24

NiSource Inc. (NYSE:NI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $34.24 and last traded at $34.24, with a volume of 203 shares traded. The stock had previously closed at $34.06.

Wall Street Analyst Weigh In

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

NiSource Trading Down 0.6 %

The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 3.25 and a beta of 0.51. The business’s fifty day moving average is $31.80 and its 200 day moving average is $29.30. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30.

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

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource’s dividend payout ratio (DPR) is currently 69.28%.

Institutional Trading of NiSource

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MCF Advisors LLC bought a new stake in NiSource during the second quarter worth about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource during the 2nd quarter worth approximately $25,000. First Financial Corp IN acquired a new stake in shares of NiSource in the 1st quarter valued at approximately $31,000. Crewe Advisors LLC bought a new position in shares of NiSource in the first quarter valued at $31,000. Finally, Fidelis Capital Partners LLC acquired a new position in NiSource during the first quarter worth $43,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Company Profile

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.