NiSource (NYSE:NI) Hits New 52-Week High - Time to Buy?

Key Points

• NiSource's stock reached a new 52-week high at $43.71 during trading, indicating strong market performance with a current trading price of $43.59.
• A variety of analyst ratings have emerged, including a downgrade from Jefferies Financial Group from "buy" to "hold," while Barclays maintained an "overweight" rating with a price target increase to $44.00.
• NiSource declared a quarterly dividend of $0.28, set to be paid on November 20th, representing an annualized dividend yield of 2.6% and a payout ratio of 59.57%.

Shares of NiSource, Inc (NYSE:NI - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.71 and last traded at $43.59, with a volume of 126806 shares. The stock had previously closed at $43.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group downgraded NiSource from a "buy" rating to a "hold" rating and dropped their price target for the stock from $48.00 to $44.00 in a research note on Friday, September 5th. Zacks Research upgraded NiSource to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Barclays reiterated an "overweight" rating and set a $44.00 target price (up from $42.00) on shares of NiSource in a research report on Monday, August 4th. Finally, BMO Capital Markets lifted their target price on NiSource from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $44.38.

NiSource Stock Up 0.2%

The company has a fifty day moving average price of $41.82 and a 200-day moving average price of $40.21. The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $20.42 billion, a P/E ratio of 23.07, a PEG ratio of 2.92 and a beta of 0.60.

NiSource (NYSE:NI - Get Free Report) last issued 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. NiSource had a return on equity of 8.25% and a net margin of 14.46%.The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, research analysts forecast that NiSource, Inc will post 1.91 EPS for the current fiscal year.

NiSource Dividend Announcement

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

Institutional Trading of NiSource

A number of large investors have recently modified their holdings of the company. Crewe Advisors LLC raised 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 buying an additional 304 shares in the last quarter. Hantz Financial Services Inc. raised 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 buying an additional 667 shares in the last quarter. Country Trust Bank bought a new position in NiSource in the second quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its stake in NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock worth $31,000 after buying an additional 299 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in NiSource in the second quarter worth approximately $32,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.