NiSource, Inc (NI) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of NiSource, Inc (NYSE:NI) have been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $25.38.
Several equities research analysts have recently commented on NI shares. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, June 1st. Zelman & Associates lowered shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Ladenburg Thalmann Financial Services started coverage on shares of NiSource in a research report on Friday, May 19th. They set a “buy” rating and a $27.00 price target for the company. Barclays PLC reaffirmed an “equal weight” rating and set a $26.00 price target (up previously from $25.00) on shares of NiSource in a research report on Thursday, June 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $23.00 price target on shares of NiSource in a research report on Friday, July 14th.
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NiSource (NI) traded down 0.095% during mid-day trading on Tuesday, reaching $26.335. 174,254 shares of the company were exchanged. The company has a market capitalization of $8.58 billion, a PE ratio of 24.072 and a beta of 0.37. The stock has a 50-day moving average price of $25.79 and a 200 day moving average price of $24.30. NiSource has a one year low of $21.17 and a one year high of $26.56.
NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The business had revenue of $990.70 million during the quarter, compared to analyst estimates of $934.95 million. During the same quarter in the previous year, the firm earned $0.09 EPS. Analysts predict that NiSource will post $1.19 EPS for the current year.
In related news, CFO Donald Eugene Brown sold 6,906 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $25.51, for a total value of $176,172.06. Following the completion of the sale, the chief financial officer now directly owns 141,168 shares of the company’s stock, valued at approximately $3,601,195.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jimmie L. Stanley sold 37,325 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $24.11, for a total transaction of $899,905.75. Following the completion of the sale, the chief operating officer now directly owns 315,471 shares of the company’s stock, valued at $7,606,005.81. The disclosure for this sale can be found here. Insiders sold a total of 89,981 shares of company stock valued at $2,191,779 over the last three months. 0.32% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in NiSource by 2,428.6% in the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock valued at $563,954,000 after buying an additional 22,768,084 shares in the last quarter. JPMorgan Chase & Co. raised its stake in NiSource by 70.3% in the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock valued at $414,632,000 after buying an additional 7,194,018 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in NiSource by 25.4% in the second quarter. Pictet Asset Management Ltd. now owns 3,264,081 shares of the utilities provider’s stock valued at $85,095,000 after buying an additional 661,840 shares in the last quarter. Geode Capital Management LLC raised its stake in NiSource by 8.4% in the first quarter. Geode Capital Management LLC now owns 3,161,227 shares of the utilities provider’s stock valued at $75,093,000 after buying an additional 244,793 shares in the last quarter. Finally, Maple Brown Abbott Ltd raised its stake in NiSource by 69.2% in the second quarter. Maple Brown Abbott Ltd now owns 2,776,704 shares of the utilities provider’s stock valued at $70,417,000 after buying an additional 1,135,300 shares in the last quarter. 82.87% of the stock is owned by 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 Company’s 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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