Barclays Forecasts Strong Price Appreciation for NiSource (NYSE:NI) Stock

Key Points

• Barclays has raised its price target for NiSource (NYSE:NI) from $42.00 to $44.00, indicating a potential upside of 1.46% from the previous close.
• Other brokerages, including BMO Capital Markets and Wells Fargo, have also increased their price objectives for NiSource, with an average price target of $41.70 based on several analysts' ratings.
• NiSource reported earnings of $0.98 EPS for the last quarter, exceeding expectations, but had lower revenue than anticipated, amounting to $2.03 billion compared to estimates of $2.32 billion.

NiSource (NYSE:NI - Get Free Report) had its price objective hoisted by analysts at Barclays from $42.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. Barclays's price target would indicate a potential upside of 1.46% from the company's previous close.

Several other brokerages have also weighed in on NI. BMO Capital Markets increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. increased their price objective on shares of NiSource from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Wells Fargo & Company increased their price objective on shares of NiSource from $43.00 to $45.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Guggenheim raised their price target on shares of NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NiSource has an average rating of "Buy" and an average price target of $41.70.

NiSource Price Performance

NYSE NI traded up $0.78 during trading hours on Monday, reaching $43.37. The company's stock had a trading volume of 1,723,955 shares, compared to its average volume of 4,498,595. The stock has a market cap of $20.41 billion, a PE ratio of 23.44, a PEG ratio of 2.88 and a beta of 0.53. NiSource has a fifty-two week low of $30.53 and a fifty-two week high of $43.43. The company's 50-day moving average is $40.09 and its two-hundred day moving average is $39.34. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.45 and a current ratio of 0.52.

NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.32 billion. NiSource had a net margin of 14.67% and a return on equity of 8.41%. During the same period in the prior year, the firm earned $0.85 EPS. Analysts forecast that NiSource will post 1.91 EPS for the current year.

Insiders Place Their Bets

In other NiSource news, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the sale, the director directly owned 18,541 shares in the company, valued at approximately $701,035.21. This trade represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melanie B. Berman sold 6,227 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $39.42, for a total value of $245,468.34. Following the completion of the sale, the executive vice president owned 28,882 shares in the company, valued at $1,138,528.44. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,405 shares of company stock worth $631,939 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NiSource

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC raised its stake in shares of NiSource by 90.7% during the second quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 304 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of NiSource by 2,668.0% during the second quarter. Hantz Financial Services Inc. now owns 692 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 667 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in shares of NiSource during the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of NiSource by 64.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 299 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of NiSource during the second quarter valued at about $32,000. 91.64% of the stock is currently owned by institutional investors.

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.

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