Analysts Set NiSource, Inc (NYSE:NI) Price Target at $43.11

Key Points

• NiSource, Inc (NYSE:NI) has a consensus rating of "Moderate Buy" from ten analysts, with two hold ratings and eight buy ratings.
• The company announced a quarterly dividend of $0.28 per share, representing a 2.8% yield and an annualized dividend of $1.12.
• NiSource reported $0.22 earnings per share for the last quarter, slightly beating analysts' expectations of $0.21, with total revenue matching forecasts at $1.16 billion.

NiSource, Inc (NYSE:NI - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $43.8750.

NI has been the subject of a number of analyst reports. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Zacks Research upgraded NiSource to a "hold" rating in a report on Monday, August 11th. Barclays restated an "overweight" rating and issued a $44.00 price target (up previously from $42.00) on shares of NiSource in a report on Monday, August 4th. Finally, Jefferies Financial Group cut NiSource from a "buy" rating to a "hold" rating and decreased their price target for the stock from $48.00 to $44.00 in a report on Friday, September 5th.

NiSource Stock Down 0.3%

NYSE NI traded down $0.13 on Tuesday, reaching $41.00. The company had a trading volume of 2,379,899 shares, compared to its average volume of 3,794,065. The firm has a market capitalization of $19.31 billion, a PE ratio of 21.81, a P/E/G ratio of 2.77 and a beta of 0.60. NiSource has a 1 year low of $33.32 and a 1 year high of $43.51. The firm has a 50-day moving average of $41.54 and a 200-day moving average of $40.05. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.59 and a quick ratio of 0.48.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.16 billion. NiSource had a return on equity of 8.25% and a net margin of 14.46%.During the same quarter in the prior year, the business earned $0.21 EPS. On average, equities research analysts anticipate that NiSource will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

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

Institutional Investors Weigh In On NiSource

Several institutional investors and hedge funds have recently made changes to their positions in the company. EP Wealth Advisors LLC increased its position in NiSource by 2.4% in the fourth quarter. EP Wealth Advisors LLC now owns 14,433 shares of the utilities provider's stock worth $531,000 after buying an additional 334 shares during the period. Ethic Inc. bought a new position in NiSource during the fourth quarter valued at about $223,000. Focus Partners Wealth lifted its holdings in shares of NiSource by 43.7% during the fourth quarter. Focus Partners Wealth now owns 12,140 shares of the utilities provider's stock valued at $446,000 after purchasing an additional 3,692 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of NiSource by 124.5% during the fourth quarter. Gotham Asset Management LLC now owns 52,914 shares of the utilities provider's stock valued at $1,945,000 after purchasing an additional 29,343 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its stake in NiSource by 400.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 125,193 shares of the utilities provider's stock worth $4,602,000 after acquiring an additional 100,193 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

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.