NiSource (NYSE:NI) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.
Several other research firms also recently weighed in on NI. Citigroup lifted their price target on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, November 20th. 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 note on Friday, September 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $26.00 price target on shares of NiSource in a research note on Wednesday, December 20th. KeyCorp reaffirmed a “buy” rating and issued a $29.50 price target on shares of NiSource in a research note on Friday, October 20th. Finally, Edward Jones raised shares of NiSource from a “hold” rating to a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $27.85.
NiSource (NYSE:NI) traded down $0.57 on Wednesday, reaching $24.13. 3,862,391 shares of the company’s stock traded hands, compared to its average volume of 2,980,000. NiSource has a 12-month low of $21.65 and a 12-month high of $27.76. The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $8,130.00, a P/E ratio of 29.07, a P/E/G ratio of 3.27 and a beta of 0.43.
Several large investors have recently bought and sold shares of the company. Cohen & Steers Inc. increased its position in shares of NiSource by 14,608.3% during the second quarter. Cohen & Steers Inc. now owns 97,537,000 shares of the utilities provider’s stock worth $95,586,000 after acquiring an additional 96,873,859 shares in the last quarter. Vanguard Group Inc. boosted its holdings in NiSource by 2.4% during the second quarter. Vanguard Group Inc. now owns 33,914,394 shares of the utilities provider’s stock worth $860,069,000 after purchasing an additional 802,824 shares during the last quarter. BlackRock Inc. boosted its holdings in NiSource by 2,428.6% during the first quarter. BlackRock Inc. now owns 23,705,566 shares of the utilities provider’s stock worth $563,954,000 after purchasing an additional 22,768,084 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in NiSource by 70.3% during the first quarter. JPMorgan Chase & Co. now owns 17,428,785 shares of the utilities provider’s stock worth $414,632,000 after purchasing an additional 7,194,018 shares during the last quarter. Finally, State Street Corp boosted its holdings in NiSource by 1.1% during the fourth quarter. State Street Corp now owns 16,546,768 shares of the utilities provider’s stock worth $366,339,000 after purchasing an additional 179,592 shares during the last quarter. 82.19% of the stock is owned by institutional investors.
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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.
