NiSource (NYSE:NI) Given New $44.00 Price Target at Mizuho

NiSource (NYSE:NI) had its price target upped by investment analysts at Mizuho from $42.00 to $44.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s target price indicates a potential upside of 10.67% from the company’s current price.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company boosted their price objective on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. UBS Group boosted their price target on shares of NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, March 21st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $39.33.

NiSource Stock Performance

Shares of NI stock opened at $39.76 on Wednesday. The firm has a 50 day moving average of $38.89 and a two-hundred day moving average of $36.80. The stock has a market capitalization of $18.68 billion, a PE ratio of 24.54, a P/E/G ratio of 2.56 and a beta of 0.50. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. NiSource has a 52 week low of $26.26 and a 52 week high of $41.45.

NiSource (NYSE:NI) last released its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same period in the previous year, the business earned $0.53 earnings per share. On average, research analysts predict that NiSource will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Gunnar Gode sold 5,500 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the sale, the chief accounting officer now directly owns 24,758 shares of the company’s stock, valued at $988,339.36. This represents a 18.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NiSource

Several large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in NiSource by 32.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,202 shares of the utilities provider’s stock valued at $1,441,000 after purchasing an additional 9,626 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NiSource during the fourth quarter worth about $9,842,000. Jefferies Financial Group Inc. increased its position in NiSource by 400.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 125,193 shares of the utilities provider’s stock valued at $4,602,000 after acquiring an additional 100,193 shares during the period. LifeWealth Investments LLC acquired a new position in NiSource in the 4th quarter valued at about $358,000. Finally, Toronto Dominion Bank raised its stake in NiSource by 29.6% during the 4th quarter. Toronto Dominion Bank now owns 256,294 shares of the utilities provider’s stock valued at $9,421,000 after acquiring an additional 58,471 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

About NiSource

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.