NiSource Inc. (NYSE:NI) Receives Average Recommendation of “Moderate Buy” from Analysts

NiSource Inc. (NYSE:NIGet Rating) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.40.

Several brokerages have recently commented on NI. Credit Suisse Group assumed coverage on NiSource in a research report on Monday, April 25th. They issued a “neutral” rating and a $32.00 target price for the company. StockNews.com assumed coverage on NiSource in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price objective on shares of NiSource from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th.

Several large investors have recently modified their holdings of NI. Vanguard Group Inc. increased its holdings in shares of NiSource by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 52,613,623 shares of the utilities provider’s stock worth $1,673,113,000 after purchasing an additional 5,153,843 shares during the period. BlackRock Inc. boosted its position in shares of NiSource by 2.1% during the 4th quarter. BlackRock Inc. now owns 51,114,664 shares of the utilities provider’s stock valued at $1,411,276,000 after acquiring an additional 1,059,839 shares in the last quarter. State Street Corp increased its holdings in NiSource by 8.9% during the 1st quarter. State Street Corp now owns 24,192,844 shares of the utilities provider’s stock valued at $769,332,000 after purchasing an additional 1,970,696 shares in the last quarter. Deutsche Bank AG raised its position in NiSource by 1.7% in the 4th quarter. Deutsche Bank AG now owns 18,413,687 shares of the utilities provider’s stock valued at $508,402,000 after purchasing an additional 299,038 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in NiSource by 56.7% in the fourth quarter. Invesco Ltd. now owns 10,159,143 shares of the utilities provider’s stock worth $280,495,000 after purchasing an additional 3,676,623 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

NI stock opened at $27.39 on Friday. The firm has a market cap of $11.11 billion, a PE ratio of 17.90, a P/E/G ratio of 2.56 and a beta of 0.35. NiSource has a 12 month low of $23.65 and a 12 month high of $32.58. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.72 and a quick ratio of 0.62. The firm has a 50 day simple moving average of $30.12 and a 200 day simple moving average of $29.27.

NiSource (NYSE:NIGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). NiSource had a return on equity of 11.34% and a net margin of 13.70%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the business posted $0.77 EPS. As a group, sell-side analysts expect that NiSource will post 1.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, July 29th will be given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Thursday, July 28th. NiSource’s dividend payout ratio is 61.44%.

NiSource Company Profile (Get Rating)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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Analyst Recommendations for NiSource (NYSE:NI)

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