NiSource (NYSE:NI) Reaches New 12-Month High – What’s Next?

NiSource Inc. (NYSE:NI) shares hit a new 52-week high on Wednesday . The company traded as high as $36.40 and last traded at $36.29, with a volume of 802110 shares trading hands. The stock had previously closed at $35.95.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NI. Barclays lifted their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their target price on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Bank of America assumed coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

NiSource Trading Down 0.6 %

The company’s fifty day moving average is $34.61 and its two-hundred day moving average is $31.53. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. The stock has a market cap of $16.81 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 3.01 and a beta of 0.51.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. On average, research analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On NiSource

Institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC purchased a new position in shares of NiSource during the second quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in NiSource during the second quarter worth approximately $25,000. Crewe Advisors LLC purchased a new stake in NiSource in the first quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new stake in shares of NiSource in the third quarter valued at approximately $33,000. Finally, Family Firm Inc. acquired a new position in shares of NiSource in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.