NiSource, Inc (NYSE:NI) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• NiSource, Inc. has been assigned an average rating of "Moderate Buy" by ten brokerages, with two analysts recommending a hold and eight a buy.
• The company recently reported a quarterly earnings per share of $0.22, exceeding the consensus estimate of $0.21, with revenues totaling $1.16 billion.
• NiSource declared a quarterly dividend of $0.28 per share, with an upcoming payment date of November 20th, reflecting an annualized yield of 2.6%.

NiSource, Inc (NYSE:NI - Get Free Report) has been given an average rating of "Moderate Buy" by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $44.3750.

Several brokerages recently commented on NI. Jefferies Financial Group lowered NiSource from a "buy" rating to a "hold" rating and decreased their price target for the company from $48.00 to $44.00 in a research note on Friday, September 5th. Barclays reaffirmed an "overweight" rating and issued a $44.00 price target (up previously from $42.00) on shares of NiSource in a research note on Monday, August 4th. Zacks Research raised NiSource to a "hold" rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of NiSource in a research note on Saturday, September 27th. Finally, BMO Capital Markets boosted their price target on NiSource from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday.

NiSource Price Performance

Shares of NYSE:NI opened at $43.88 on Friday. NiSource has a 1-year low of $33.65 and a 1-year high of $44.18. The firm has a market capitalization of $20.66 billion, a PE ratio of 23.34, a PEG ratio of 2.91 and a beta of 0.60. The business's 50 day moving average is $41.91 and its 200-day moving average is $40.29. The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 1.32.

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

NiSource Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.6%. NiSource's payout ratio is currently 59.57%.

Hedge Funds Weigh In On NiSource

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC boosted its stake in NiSource by 90.7% in the second quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider's stock worth $26,000 after purchasing an additional 304 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in NiSource by 2,668.0% in the second quarter. Hantz Financial Services Inc. now owns 692 shares of the utilities provider's stock worth $28,000 after purchasing an additional 667 shares in the last quarter. Country Trust Bank acquired a new position in NiSource in the second quarter worth $28,000. Ameritas Advisory Services LLC acquired a new position in NiSource in the second quarter worth $32,000. Finally, Larson Financial Group LLC boosted its stake in NiSource by 48.8% in the first quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock worth $33,000 after purchasing an additional 266 shares in the last quarter. 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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