NiSource Inc. (NYSE:NI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of NiSource Inc. (NYSE:NI) have been given a consensus rating of “Buy” by the eight ratings firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $38.13.

Separately, Wells Fargo & Company lifted their target price on NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th.

NiSource Stock Performance

NiSource stock opened at $39.32 on Tuesday. The stock has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $36.50. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 24.27, 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 12-month low of $26.26 and a 12-month high of $41.45.

NiSource (NYSE:NI) last announced 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 return on equity of 7.87% and a net margin of 13.94%. During the same quarter last year, the business earned $0.53 EPS. On average, research analysts anticipate that NiSource will post 1.91 earnings per share for the current fiscal year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Monday, February 3rd. This is an increase from NiSource’s previous quarterly dividend of $0.27. NiSource’s dividend payout ratio is currently 69.14%.

Insiders Place Their Bets

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were 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 owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On NiSource

Institutional investors and hedge funds have recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan bought a new position in NiSource during the fourth quarter worth about $27,000. Brooklyn Investment Group raised its position in shares of NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 527 shares during the period. Spire Wealth Management bought a new position in shares of NiSource during the 4th quarter valued at about $39,000. Catalyst Capital Advisors LLC acquired a new position in shares of NiSource in the 4th quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in NiSource during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds 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.