NiSource Inc. (NI) Raised to Hold at Jefferies Group
NiSource Inc. (NYSE:NI) was upgraded by investment analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a report issued on Thursday, The Fly reports.
Other equities analysts have also issued reports about the stock. Evercore ISI lowered shares of NiSource from a “hold” rating to a “sell” rating and set a $23.75 target price for the company. in a report on Wednesday, July 6th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $26.00 target price on shares of NiSource in a report on Wednesday, August 3rd. Citigroup Inc. lifted their target price on shares of NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Zacks Investment Research lowered shares of NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Argus reaffirmed a “hold” rating on shares of NiSource in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $25.09.
Shares of NiSource (NYSE:NI) opened at 22.69 on Thursday. NiSource has a 52 week low of $18.60 and a 52 week high of $26.94. The stock has a market cap of $7.31 billion, a P/E ratio of 27.60 and a beta of 0.25. The stock has a 50 day moving average of $23.96 and a 200 day moving average of $24.38.
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NiSource (NYSE:NI) last posted its 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 quarter last year, the business posted $0.18 earnings per share. On average, analysts expect that NiSource will post $1.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Monday, October 31st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a yield of 2.91%. NiSource’s dividend payout ratio 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 transaction of $28,500.00. Following the sale, the vice president now owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in NI. MUFG Americas Holdings Corp boosted its stake in shares of NiSource by 2.5% in the second quarter. MUFG Americas Holdings Corp now owns 4,149 shares of the company’s stock valued at $110,000 after buying an additional 100 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in shares of NiSource by 84.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,503 shares of the company’s stock valued at $119,000 after buying an additional 2,068 shares during the period. TCI Wealth Advisors Inc. boosted its stake in shares of NiSource by 0.5% in the second quarter. TCI Wealth Advisors Inc. now owns 4,671 shares of the company’s stock valued at $124,000 after buying an additional 22 shares during the period. Advisory Services Network LLC boosted its stake in shares of NiSource by 15.5% in the third quarter. Advisory Services Network LLC now owns 4,853 shares of the company’s stock valued at $117,000 after buying an additional 653 shares during the period. Finally, AIMZ Investment Advisors LLC acquired a new stake in shares of NiSource during the first quarter valued at about $267,000. 82.29% of the stock is currently owned by institutional investors.
NiSource Company Profile
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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