NiSource Inc. (NYSE:NI) Receives $37.50 Consensus PT from Brokerages

Shares of NiSource Inc. (NYSE:NI) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $37.50.

Several research analysts have weighed in on NI shares. Wells Fargo & Company boosted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price objective on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Bank of America initiated coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price objective on the stock. Jefferies Financial Group initiated coverage on NiSource in a research note on Monday, October 28th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Barclays boosted their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st.

NiSource Price Performance

NI stock opened at $36.61 on Friday. The stock’s fifty day simple moving average is $35.82 and its two-hundred day simple moving average is $32.68. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. NiSource has a 1-year low of $24.80 and a 1-year high of $38.56. The stock has a market cap of $17.09 billion, a P/E ratio of 22.19, a P/E/G ratio of 3.08 and a beta of 0.53.

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

Institutional Trading of NiSource

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC bought a new stake in shares of NiSource during the 2nd quarter valued at $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource during the 2nd quarter valued at $25,000. Capital Performance Advisors LLP bought a new position in NiSource in the 3rd quarter worth about $33,000. Family Firm Inc. bought a new position in NiSource in the 2nd quarter worth about $43,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in NiSource in the 2nd quarter worth about $47,000. 91.64% of the stock is currently owned by 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.