NiSource (NYSE:NI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $27.00 price target on the utilities provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.17% from the company’s current price.

According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy.  NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”

Other research analysts have also recently issued reports about the stock. Goldman Sachs Group upgraded shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, January 10th. JPMorgan Chase & Co. increased their target price on shares of NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Credit Suisse Group increased their target price on shares of NiSource from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Edward Jones upgraded shares of NiSource from a “hold” rating to a “buy” rating in a report on Tuesday, January 9th. Finally, Jefferies Group reiterated a “hold” rating and set a $26.00 target price on shares of NiSource in a report on Wednesday, December 20th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. NiSource presently has an average rating of “Buy” and a consensus target price of $27.32.

NiSource (NI) traded down $0.06 during mid-day trading on Tuesday, reaching $24.07. 2,661,400 shares of the company traded hands, compared to its average volume of 2,930,011. The stock has a market cap of $8,040.00, a P/E ratio of 29.00, a PEG ratio of 3.17 and a beta of 0.43. NiSource has a 52 week low of $21.65 and a 52 week high of $27.76. The company has a quick ratio of 0.32, a current ratio of 0.52 and a debt-to-equity ratio of 1.72.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. The company had revenue of $917.00 million for the quarter, compared to the consensus estimate of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same quarter last year, the firm posted $0.06 EPS. analysts predict that NiSource will post 1.2 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its holdings in shares of NiSource by 0.5% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 4,671 shares of the utilities provider’s stock valued at $124,000 after buying an additional 22 shares in the last quarter. Lynch & Associates IN boosted its holdings in shares of NiSource by 0.3% in the 2nd quarter. Lynch & Associates IN now owns 10,228 shares of the utilities provider’s stock valued at $271,000 after buying an additional 31 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of NiSource by 0.5% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 12,266 shares of the utilities provider’s stock valued at $325,000 after buying an additional 58 shares in the last quarter. ING Groep NV boosted its holdings in shares of NiSource by 0.4% in the 2nd quarter. ING Groep NV now owns 16,563 shares of the utilities provider’s stock valued at $420,000 after buying an additional 59 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC boosted its holdings in shares of NiSource by 0.3% in the 1st quarter. Balasa Dinverno & Foltz LLC now owns 21,364 shares of the utilities provider’s stock valued at $508,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 82.20% of the company’s stock.

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About NiSource

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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