Equities Analysts Offer Predictions for NiSource Inc.’s Q3 2016 Earnings (NI)
NiSource Inc. (NYSE:NI) – Equities researchers at KeyCorp issued their Q3 2016 EPS estimates for shares of NiSource in a research note issued to investors on Monday. KeyCorp analyst P. Ridzon forecasts that the firm will earn $0.06 per share for the quarter. KeyCorp currently has a “Buy” rating and a $27.00 price target on the stock.
NiSource (NYSE:NI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same quarter in the previous year, the business posted $0.18 EPS.
A number of other analysts also recently weighed in on NI. Evercore ISI downgraded NiSource from a “hold” rating to a “sell” rating and set a $23.75 target price for the company. in a research report on Wednesday, July 6th. Zacks Investment Research downgraded NiSource from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Jefferies Group downgraded NiSource from a “hold” rating to an “underperform” rating and set a $22.00 target price for the company. in a research report on Monday, July 25th. Credit Suisse Group AG downgraded NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 target price for the company. in a research report on Friday, August 19th. They noted that the move was a valuation call. Finally, Citigroup Inc. boosted their target price on NiSource from $18.08 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. NiSource presently has an average rating of “Hold” and an average target price of $25.09.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/equities-analysts-offer-predictions-for-nisource-inc-s-q3-2016-earnings-ni.html
NiSource (NYSE:NI) traded down 0.976% during trading on Wednesday, hitting $22.835. The company’s stock had a trading volume of 709,670 shares. The firm has a 50 day moving average of $23.78 and a 200 day moving average of $24.38. NiSource has a 12 month low of $18.60 and a 12 month high of $26.94. The firm has a market cap of $7.36 billion, a P/E ratio of 27.780 and a beta of 0.25.
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. The ex-dividend date is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a yield of 2.86%. 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 that occurred on Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total value of $28,500.00. Following the transaction, the vice president now directly owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of NI. Goldman Sachs Group Inc. boosted its position in NiSource by 12.7% in the first quarter. Goldman Sachs Group Inc. now owns 4,938,873 shares of the company’s stock valued at $116,360,000 after buying an additional 555,459 shares during the period. Riverhead Capital Management LLC boosted its position in NiSource by 49.6% in the first quarter. Riverhead Capital Management LLC now owns 316,477 shares of the company’s stock valued at $7,457,000 after buying an additional 104,984 shares during the period. AXA acquired a new position in NiSource during the first quarter valued at about $50,418,000. Meeder Asset Management Inc. boosted its position in NiSource by 1,120.4% in the first quarter. Meeder Asset Management Inc. now owns 157,737 shares of the company’s stock valued at $3,716,000 after buying an additional 144,812 shares during the period. Finally, State Street Corp boosted its position in NiSource by 6.7% in the first quarter. State Street Corp now owns 13,981,566 shares of the company’s stock valued at $329,410,000 after buying an additional 883,345 shares during the period. 82.30% of the stock is currently owned by hedge funds and other 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.
Receive News & Ratings for NiSource Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource Inc. and related companies with MarketBeat.com's FREE daily email newsletter.