NiSource (NYSE:NI) Coverage Initiated by Analysts at Scotiabank

Key Points

• Scotiabank initiated coverage of NiSource with a “sector perform” rating and a $43 price target, implying approximately 10% upside from the prior close.
• Analyst sentiment remains favorable: NiSource has 10 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $48.75.
• NiSource reported quarterly EPS of $0.16, in line with estimates, while revenue of $1.34 billion exceeded expectations; institutional investors own 91.64% of the stock.

Scotiabank started coverage on shares of NiSource (NYSE:NI - Get Free Report) in a research report issued on Tuesday, Briefing.com reports. The firm set a "sector perform" rating and a $43.00 price target on the utilities provider's stock. Scotiabank's price objective points to a potential upside of 9.96% from the stock's previous close.

A number of other research firms have also weighed in on NI. Barclays cut their target price on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Weiss Ratings lowered shares of NiSource from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 22nd. KeyCorp dropped their price objective on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH dropped their price target on NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Finally, Mizuho reduced their price objective on NiSource from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 26th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.75.

NiSource Price Performance

NYSE:NI opened at $39.10 on Tuesday. The business's 50-day moving average is $42.14 and its 200 day moving average is $45.32. NiSource has a 12 month low of $38.94 and a 12 month high of $49.21. The company has a market capitalization of $18.75 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.94 and a beta of 0.54. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. NiSource had a return on equity of 7.95% and a net margin of 13.20%.The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the business posted $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities research analysts forecast that NiSource will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Melody Birmingham sold 37,509 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares in the company, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company's stock.

Institutional Trading of NiSource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of NiSource in the second quarter valued at about $2,613,234,000. BNP Paribas Financial Markets lifted its stake in NiSource by 41.7% in the fourth quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider's stock worth $37,228,000 after acquiring an additional 262,483 shares during the period. Norges Bank bought a new position in NiSource during the 4th quarter worth about $336,852,000. Vestcor Inc grew its holdings in NiSource by 320.7% during the 4th quarter. Vestcor Inc now owns 65,854 shares of the utilities provider's stock worth $2,750,000 after acquiring an additional 50,200 shares in the last quarter. Finally, De Lisle Partners LLP purchased a new position in NiSource during the 4th quarter valued at about $4,176,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Company Profile

NiSource Inc NYSE: NI is a regulated utility company that provides natural gas and electric services to residential, commercial and industrial customers in the United States. Its operations are primarily focused on the distribution, transmission and storage of natural gas, along with electric generation and distribution in Indiana.

Through its Columbia Gas utilities, NiSource serves natural gas customers in Ohio, Pennsylvania, Virginia, Maryland, Massachusetts and Kentucky. Its Northern Indiana Public Service Company (NIPSCO) subsidiary provides natural gas and electric service in northern Indiana.

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