Credit Suisse Group AG Boosts NiSource, Inc (NI) Price Target to $30.00
NiSource, Inc (NYSE:NI) had its target price hoisted by research analysts at Credit Suisse Group AG from $29.00 to $30.00 in a report issued on Thursday. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Credit Suisse Group AG’s target price indicates a potential upside of 13.77% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group LLC reiterated a “hold” rating and set a $23.00 price objective on shares of NiSource in a research report on Friday, July 14th. J P Morgan Chase & Co boosted their price objective on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Wells Fargo & Company assumed coverage on shares of NiSource in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, KeyCorp reiterated a “buy” rating and set a $29.50 price objective on shares of NiSource in a research report on Friday, October 20th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. NiSource has a consensus rating of “Buy” and a consensus price target of $26.85.
NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. NiSource had a net margin of 5.96% and a return on equity of 9.17%. The company had revenue of $917.00 million for the quarter, compared to the consensus estimate of $901.00 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share.
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In related news, Director Michael E. Jesanis purchased 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $26.44 per share, for a total transaction of $52,880.00. Following the completion of the acquisition, the director now owns 34,195 shares in the company, valued at approximately $904,115.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NI. OppenheimerFunds Inc. grew its holdings in shares of NiSource by 10.2% in the first quarter. OppenheimerFunds Inc. now owns 24,487 shares of the utilities provider’s stock worth $583,000 after purchasing an additional 2,265 shares during the last quarter. FMR LLC grew its holdings in shares of NiSource by 11.3% in the first quarter. FMR LLC now owns 651,309 shares of the utilities provider’s stock worth $15,495,000 after purchasing an additional 66,298 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NiSource by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,220,504 shares of the utilities provider’s stock worth $29,034,000 after purchasing an additional 12,599 shares during the last quarter. Amalgamated Bank grew its holdings in shares of NiSource by 6.1% in the first quarter. Amalgamated Bank now owns 22,606 shares of the utilities provider’s stock worth $538,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of NiSource by 41.5% in the first quarter. Bank of America Corp DE now owns 970,183 shares of the utilities provider’s stock worth $23,080,000 after purchasing an additional 284,702 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.
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 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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