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

Key Points

• NiSource, Inc has an average analyst recommendation of “Moderate Buy”, with nine out of ten analysts issuing buy ratings and an average price target of $42.56.
• The company reported a quarterly EPS of $0.22, slightly exceeding consensus estimates, and is expected to post 1.91 EPS for the current year.
• NiSource has announced a quarterly dividend of $0.28, representing an annualized amount of $1.12 and a dividend yield of 2.7%.

Shares of NiSource, Inc (NYSE:NI - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $42.5556.

NI has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. BMO Capital Markets raised their target price on shares of NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Zacks Research raised NiSource to a "hold" rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company raised their target price on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th.

NiSource Price Performance

NiSource stock traded up $0.3450 during trading on Friday, reaching $42.0550. The company had a trading volume of 576,230 shares, compared to its average volume of 4,493,939. The firm has a market capitalization of $19.80 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53. The firm's 50-day simple moving average is $40.79 and its 200 day simple moving average is $39.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. NiSource has a 1-year low of $32.02 and a 1-year high of $43.51.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share 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 analysts' expectations of $1.16 billion. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, equities research analysts anticipate that NiSource will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, October 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 31st. NiSource's payout ratio is presently 59.57%.

Insider Activity

In other news, EVP Melanie B. Berman sold 6,227 shares of NiSource stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $39.42, for a total transaction of $245,468.34. Following the sale, the executive vice president owned 28,882 shares of the company's stock, valued at approximately $1,138,528.44. The trade was a 17.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of NiSource

A number of hedge funds and other institutional investors have recently modified their holdings of NI. CYBER HORNET ETFs LLC acquired a new stake in shares of NiSource during the second quarter valued at about $44,000. CANADA LIFE ASSURANCE Co grew its position in shares of NiSource by 5.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 497,567 shares of the utilities provider's stock worth $20,093,000 after buying an additional 23,562 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of NiSource in the 2nd quarter valued at approximately $56,000. Florida Financial Advisors LLC acquired a new stake in NiSource in the second quarter valued at $1,225,000. Finally, State of Tennessee Department of Treasury boosted its holdings in NiSource by 4.3% in the second quarter. State of Tennessee Department of Treasury now owns 239,821 shares of the utilities provider's stock valued at $9,674,000 after purchasing an additional 9,942 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.