NiSource (NYSE:NI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded NiSource from “sell” to “hold,” while broader analyst sentiment remains positive with a consensus “Moderate Buy” rating and a $48.58 price target.
• NiSource reported quarterly EPS of $0.27, exceeding estimates of $0.23, alongside revenue of $1.35 billion versus the $1.34 billion consensus.
• NiSource shares opened at $44.56, with the company valued at $21.37 billion; institutional investors own 91.64% of outstanding shares, while an executive recently sold 37,509 shares.

NiSource (NYSE:NI - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Mizuho lowered their target price on NiSource from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 26th. JPMorgan Chase & Co. reduced their price target on NiSource from $52.00 to $51.00 and set an "overweight" rating for the company in a research report on Tuesday, October 20th. BMO Capital Markets increased their price target on NiSource from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Monday, October 19th. Scotiabank started coverage on NiSource in a research note on Tuesday, September 29th. They issued a "sector perform" rating and a $43.00 price target for the company. Finally, Weiss Ratings lowered NiSource from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 22nd. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, NiSource has an average rating of "Moderate Buy" and a consensus price target of $48.58.

NiSource Stock Down 0.4%

NiSource stock opened at $44.56 on Friday. The company has a market cap of $21.37 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 3.32 and a beta of 0.55. NiSource has a 1-year low of $38.42 and a 1-year high of $49.21. The company has a fifty day simple moving average of $41.21 and a 200 day simple moving average of $44.83. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.37.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. NiSource had a net margin of 13.56% and a return on equity of 8.16%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $0.19 EPS. Research analysts anticipate that NiSource will post 2.06 earnings per share for the current fiscal year.

Insider Activity at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of NiSource 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 transaction, the executive vice president owned 78,527 shares of the company's stock, valued at $3,329,544.80. This trade represents a 32.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NiSource

A number of institutional investors and hedge funds have recently modified their holdings of NI. Contravisory Investment Management Inc. increased its stake in shares of NiSource by 1.1% during the second quarter. Contravisory Investment Management Inc. now owns 24,118 shares of the utilities provider's stock valued at $1,147,000 after purchasing an additional 254 shares in the last quarter. Caldwell Trust Co lifted its holdings in shares of NiSource by 46.6% during the third quarter. Caldwell Trust Co now owns 871 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 277 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of NiSource by 35.8% during the second quarter. Parkside Financial Bank & Trust now owns 1,339 shares of the utilities provider's stock valued at $64,000 after purchasing an additional 353 shares during the last quarter. CX Institutional boosted its position in shares of NiSource by 5.5% in the 2nd quarter. CX Institutional now owns 7,050 shares of the utilities provider's stock worth $335,000 after purchasing an additional 366 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of NiSource by 5.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,375 shares of the utilities provider's stock worth $344,000 after purchasing an additional 394 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

About NiSource

NiSource Inc is a regulated energy holding company based in Merrillville, Indiana. Through its operating companies, the company provides natural gas distribution and electric utility services to residential, commercial and industrial customers.

NiSource's natural gas operations include Columbia Gas utilities serving customers in several states, including Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana and provides both electric power and natural gas services.

The company's operations include energy delivery infrastructure, utility system maintenance, customer services and investments intended to support reliability and the transition of its generation portfolio.

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