Evercore ISI Boosts NiSource (NYSE:NI) Price Target to $46.00

Key Points

• Evercore ISI has increased its price target for NiSource (NYSE:NI) from $45.00 to $46.00, indicating a potential upside of 4.94% from the stock's previous close.
• The company has received mixed ratings from various research firms, with most analysts maintaining a Buy or Hold rating, showing a consensus of a Moderate Buy status.
• NiSource reported earnings per share of $0.22 for the last quarter, exceeding analysts' estimates, and had a revenue of $1.16 billion, aligning with expectations.

NiSource (NYSE:NI - Get Free Report) had its price objective lifted by equities research analysts at Evercore ISI from $45.00 to $46.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the utilities provider's stock. Evercore ISI's price objective suggests a potential upside of 4.94% from the stock's previous close.

A number of other research firms have also issued reports on NI. Barclays reissued an "overweight" rating and set a $44.00 price target (up from $42.00) on shares of NiSource in a research report on Monday, August 4th. Zacks Research raised shares of NiSource to a "hold" rating in a research report on Monday, August 11th. Weiss Ratings reissued a "buy (b)" rating on shares of NiSource in a research report on Wednesday, October 8th. Wall Street Zen cut shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets raised their price objective on shares of NiSource from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $44.56.

NiSource Stock Performance

NI traded up $0.59 during trading on Monday, reaching $43.84. 1,075,971 shares of the company's stock were exchanged, compared to its average volume of 4,457,641. NiSource has a 1 year low of $34.23 and a 1 year high of $44.51. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48. The stock has a market capitalization of $20.64 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 3.19 and a beta of 0.60. The company's fifty day simple moving average is $42.09 and its 200-day simple moving average is $40.54.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. NiSource had a net margin of 14.46% and a return on equity of 8.25%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted $0.21 EPS. As a group, research analysts predict that NiSource will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NiSource

A number of institutional investors have recently added to or reduced their stakes in the stock. Ethic Inc. grew its stake in NiSource by 16.4% in the 3rd quarter. Ethic Inc. now owns 9,895 shares of the utilities provider's stock valued at $428,000 after acquiring an additional 1,396 shares during the period. Apollon Wealth Management LLC acquired a new stake in NiSource in the 3rd quarter valued at $204,000. Regent Peak Wealth Advisors LLC acquired a new stake in NiSource in the 3rd quarter valued at $371,000. Spirit of America Management Corp NY grew its stake in NiSource by 13.6% in the 3rd quarter. Spirit of America Management Corp NY now owns 32,500 shares of the utilities provider's stock valued at $1,407,000 after acquiring an additional 3,900 shares during the period. Finally, Inspire Investing LLC acquired a new stake in NiSource in the 3rd quarter valued at $850,000. 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.

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