NiSource (NYSE:NI) PT Raised to $34.00 at Evercore ISI

NiSource (NYSE:NI) had its price target lifted by Evercore ISI from $32.00 to $34.00 in a research note released on Thursday, Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

A number of other research analysts have also commented on the stock. Mizuho started coverage on shares of NiSource in a research report on Thursday, July 11th. They set an outperform rating and a $33.00 price target for the company. Barclays boosted their target price on NiSource from $31.00 to $34.00 and gave the stock an overweight rating in a research report on Monday, July 15th. Finally, BMO Capital Markets raised their price target on NiSource from $31.00 to $32.00 and gave the company an outperform rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $30.83.

NiSource Price Performance

NI traded up $0.30 during trading on Thursday, reaching $31.35. 4,434,601 shares of the company were exchanged, compared to its average volume of 4,260,353. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 3.07 and a beta of 0.50. NiSource has a 12-month low of $22.86 and a 12-month high of $32.38. The company’s 50-day moving average is $29.57 and its two-hundred day moving average is $27.98.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.16 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same period in the prior year, the firm posted $0.11 earnings per share. Research analysts forecast that NiSource will post 1.72 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.38%. The ex-dividend date is Wednesday, July 31st. NiSource’s dividend payout ratio (DPR) is currently 69.28%.

Insider Transactions at NiSource

In other NiSource news, SVP Melanie B. Berman sold 3,742 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total transaction of $104,626.32. Following the transaction, the senior vice president now directly owns 19,978 shares in the company, valued at $558,584.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Trading of NiSource

Institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC boosted its stake in shares of NiSource by 23.8% during the first quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 369 shares during the period. Thomasville National Bank grew its holdings in NiSource by 0.7% in the 2nd quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider’s stock worth $1,548,000 after acquiring an additional 372 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in shares of NiSource by 3.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider’s stock valued at $350,000 after acquiring an additional 405 shares during the period. Sound Income Strategies LLC raised its stake in shares of NiSource by 11.1% during the first quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 449 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of NiSource by 7.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 451 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.