NiSource (NYSE:NI) Price Target Raised to $45.00

NiSource (NYSE:NI) had its price target lifted by UBS Group from $40.00 to $45.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. UBS Group’s target price indicates a potential upside of 14.33% from the stock’s current price.

Separately, Wells Fargo & Company raised their price target on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $38.89.

NiSource Price Performance

NiSource stock traded down $0.21 during mid-day trading on Friday, hitting $39.36. 1,062,435 shares of the company were exchanged, compared to its average volume of 3,669,022. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.41. The business’s 50 day simple moving average is $38.61 and its two-hundred day simple moving average is $36.58. The company has a market capitalization of $18.50 billion, a P/E ratio of 24.30, a PEG ratio of 2.56 and a beta of 0.50. NiSource has a 12-month low of $26.26 and a 12-month high of $41.45.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $0.53 EPS. Analysts forecast that NiSource will post 1.91 earnings per share for the current fiscal year.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the transaction, the chief accounting officer now owns 24,758 shares in the company, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan acquired a new position in shares of NiSource during the fourth quarter worth about $27,000. Brooklyn Investment Group lifted its stake 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 in the last quarter. Spire Wealth Management acquired a new position in shares of NiSource during the fourth quarter worth about $39,000. Catalyst Capital Advisors LLC acquired a new position in shares of NiSource during the fourth quarter worth about $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of NiSource during the third quarter worth about $47,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.