NiSource (NYSE:NI) Reaches New 12-Month High After Analyst Upgrade

Key Points

• NiSource shares reached a new 52-week high of $43.51 following an analyst upgrade from Barclays, which raised their price target from $42.00 to $44.00 while maintaining an "overweight" rating.
• In addition to Barclays, multiple other analysts including Wells Fargo and JPMorgan have also increased their price targets for NiSource, reflecting strong investor confidence with an average consensus target price of $41.70.
• NiSource declared a quarterly dividend of $0.28 per share, representing an annualized yield of 2.6%, with the dividend payout ratio currently at 60.54%.

NiSource, Inc (NYSE:NI - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $42.00 to $44.00. Barclays currently has an overweight rating on the stock. NiSource traded as high as $43.51 and last traded at $43.37, with a volume of 5146517 shares changing hands. The stock had previously closed at $42.59.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their price target on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Guggenheim lifted their price target on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets lifted their price target on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $41.70.

Insider Buying and Selling at NiSource

In other news, EVP Melanie B. Berman sold 6,227 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $39.42, for a total transaction of $245,468.34. Following the transaction, the executive vice president directly owned 28,882 shares of the company's stock, valued at $1,138,528.44. This represents a 17.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $37.81, for a total value of $233,590.18. Following the transaction, the director directly owned 18,541 shares in the company, valued at approximately $701,035.21. The trade was a 24.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,405 shares of company stock worth $631,939 over the last three months. Corporate insiders own 0.24% of the company's stock.

Institutional Trading of NiSource

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crewe Advisors LLC boosted its stake in NiSource by 90.7% during the second quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider's stock valued at $26,000 after buying an additional 304 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in NiSource by 2,668.0% during the second quarter. Hantz Financial Services Inc. now owns 692 shares of the utilities provider's stock valued at $28,000 after buying an additional 667 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in NiSource during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in NiSource by 64.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after buying an additional 299 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in NiSource during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Stock Performance

The business has a 50 day moving average of $40.17 and a 200 day moving average of $39.37. The company has a market capitalization of $20.41 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. The company has a quick ratio of 0.45, a current ratio of 0.52 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.32 billion. NiSource had a return on equity of 8.41% and a net margin of 14.67%. During the same period last year, the company earned $0.85 EPS. On average, sell-side analysts predict that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Thursday, July 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is currently 60.54%.

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.

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