NiSource Inc. (NI) Shares Gap Up to $24.43
NiSource Inc. (NYSE:NI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $24.38, but opened at $24.43. NiSource shares last traded at $24.69, with a volume of 1,052,909 shares trading hands.
Several equities analysts have weighed in on NI shares. Credit Suisse Group AG lowered NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 target price on the stock. in a report on Friday, August 19th. They noted that the move was a valuation call. KeyCorp set a $27.00 target price on NiSource and gave the company a “buy” rating in a report on Monday, September 12th. Jefferies Group lowered NiSource from a “hold” rating to an “underperform” rating and set a $22.00 target price on the stock. in a report on Monday, July 25th. Citigroup Inc. raised their target price on NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $24.34.
The company has a 50-day moving average price of $24.47 and a 200-day moving average price of $24.29. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 29.93 and a beta of 0.25.
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NiSource (NYSE:NI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same period in the prior year, the company earned $0.18 earnings per share. Equities research analysts predict that NiSource Inc. will post $1.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.68%. The ex-dividend date is Thursday, October 27th. NiSource’s dividend payout ratio (DPR) is currently 80.49%.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of NiSource stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total value of $28,500.00. Following the completion of the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at $899,721.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Cohen & Steers Inc. increased its stake in NiSource by 14,608.3% in the second quarter. Cohen & Steers Inc. now owns 97,537,000 shares of the company’s stock valued at $95,586,000 after buying an additional 96,873,859 shares during the last quarter. Vanguard Group Inc. increased its stake in NiSource by 12.2% in the second quarter. Vanguard Group Inc. now owns 33,580,911 shares of the company’s stock valued at $890,566,000 after buying an additional 3,654,293 shares during the last quarter. Norges Bank acquired a new stake in NiSource during the fourth quarter valued at approximately $63,763,000. AXA acquired a new stake in NiSource during the first quarter valued at approximately $50,418,000. Finally, State Street Corp increased its stake in NiSource by 14.9% in the second quarter. State Street Corp now owns 16,070,267 shares of the company’s stock valued at $426,183,000 after buying an additional 2,088,701 shares during the last quarter. 82.82% of the stock is owned by hedge funds and other institutional investors.
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 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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