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NiSource (NYSE:NI) Reaches New 52-Week High - Here's What Happened

NiSource logo with Utilities background

Key Points

  • NiSource's stock price reached a new 52-week high of $42.75 during trading, reflecting strong investor interest with a recent close at $42.59.
  • Several analysts have upgraded their price targets for NiSource, with Barclays setting a new target of $42.00 and Wells Fargo increasing it to $45.00, indicating a consensus rating of "Buy."
  • NiSource has announced a quarterly dividend of $0.28 per share, representing a 2.62% dividend yield, with the payout ratio currently at 60.54%.
  • Interested in NiSource? Here are five stocks we like better.

NiSource, Inc (NYSE:NI - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $42.75 and last traded at $42.59, with a volume of 445016 shares trading hands. The stock had previously closed at $42.18.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NI shares. BMO Capital Markets increased their price objective on NiSource from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wells Fargo & Company increased their price objective on NiSource from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Guggenheim upped their target price on NiSource from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays upped their target price on NiSource from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on NiSource from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, NiSource has an average rating of "Buy" and a consensus target price of $41.50.

Get Our Latest Analysis on NiSource

NiSource Stock Down 0.0%

The firm has a 50-day moving average of $40.01 and a 200 day moving average of $39.27. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.52 and a quick ratio of 0.45. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.87 and a beta of 0.54.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.32 billion. NiSource had a return on equity of 8.41% and a net margin of 14.67%. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, sell-side analysts forecast that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders 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 yield of 2.6%. The ex-dividend date is Thursday, July 31st. NiSource's dividend payout ratio (DPR) is 60.54%.

Insiders Place Their Bets

In other NiSource news, EVP Melanie B. Berman sold 6,227 shares of the firm'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 owned 28,882 shares in the company, valued at $1,138,528.44. This trade represents a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Jesanis sold 6,178 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $37.81, for a total value of $233,590.18. Following the transaction, the director owned 18,541 shares in the company, valued at approximately $701,035.21. This trade represents a 24.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,405 shares of company stock worth $631,939. Corporate insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On NiSource

A number of hedge funds have recently added to or reduced their stakes in NI. Crewe Advisors LLC increased its stake in shares of NiSource by 90.7% in the 2nd quarter. Crewe Advisors LLC now owns 639 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 304 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new position in shares of NiSource in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of NiSource by 64.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 299 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of NiSource in the 2nd quarter valued at $32,000. Finally, Larson Financial Group LLC increased its stake in shares of NiSource by 48.8% in the 1st quarter. Larson Financial Group LLC now owns 811 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

About NiSource

(Get Free Report)

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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