NiSource (NYSE:NI) Price Target Raised to $44.00

NiSource (NYSE:NI) had its price target lifted by Mizuho from $42.00 to $44.00 in a report published on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. UBS Group lifted their price objective on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $39.33.

NiSource Stock Up 0.3 %

Shares of NYSE NI opened at $39.88 on Wednesday. The stock has a market cap of $18.74 billion, a P/E ratio of 24.62, a PEG ratio of 2.56 and a beta of 0.50. The business’s fifty day simple moving average is $38.93 and its 200-day simple moving average is $36.85. NiSource has a 12-month low of $26.26 and a 12-month high of $41.45. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts predict that NiSource will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.81%. NiSource’s dividend payout ratio is presently 69.14%.

Insider Buying and Selling

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $39.92, for a total value of $219,560.00. Following the transaction, the chief accounting officer now directly owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. The trade was a 18.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in NiSource by 32.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,202 shares of the utilities provider’s stock worth $1,441,000 after buying an additional 9,626 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NiSource in the 4th quarter worth approximately $9,842,000. Jefferies Financial Group Inc. lifted its position in NiSource by 400.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 125,193 shares of the utilities provider’s stock worth $4,602,000 after buying an additional 100,193 shares during the period. LifeWealth Investments LLC acquired a new stake in shares of NiSource in the fourth quarter worth approximately $358,000. Finally, Toronto Dominion Bank increased its holdings in shares of NiSource by 29.6% during the 4th quarter. Toronto Dominion Bank now owns 256,294 shares of the utilities provider’s stock worth $9,421,000 after buying an additional 58,471 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

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.