Analysts Set NiSource Inc. (NYSE:NI) Price Target at $37.50

NiSource Inc. (NYSE:NI) has earned a consensus rating of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $37.50.

A number of brokerages have recently weighed in on NI. Bank of America began coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. Barclays raised 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. BMO Capital Markets upped their price target on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company raised their price objective on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group began coverage on NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NI. Ashton Thomas Private Wealth LLC purchased a new stake in NiSource during the 2nd quarter worth $25,000. MCF Advisors LLC bought a new stake in shares of NiSource during the second quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new position in shares of NiSource during the 3rd quarter valued at $33,000. Crewe Advisors LLC acquired a new position in shares of NiSource in the 1st quarter valued at $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in NiSource during the third quarter valued at $47,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Stock Up 1.5 %

NI stock opened at $36.57 on Wednesday. NiSource has a 52 week low of $24.80 and a 52 week high of $36.74. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The company has a market cap of $17.07 billion, a P/E ratio of 22.16, a P/E/G ratio of 3.04 and a beta of 0.51. The company’s 50-day moving average price is $34.67 and its 200 day moving average price is $31.64.

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

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.