NiSource (NYSE:NI) Upgraded by Evercore ISI to "Hold" Rating

Key Points

• Evercore ISI upgraded NiSource to a "hold" rating, reflecting a shift in analysts' outlook for the company's stock.
• Jefferies Financial Group downgraded NiSource from a "buy" to a "hold" rating, lowering its price target from $48.00 to $44.00.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $44.44, supported by eight analysts recommending a buy and three holding.

NiSource (NYSE:NI - Get Free Report) was upgraded by equities researchers at Evercore ISI to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group lowered NiSource from a "buy" rating to a "hold" rating and cut their price target for the company from $48.00 to $44.00 in a research note on Friday, September 5th. Barclays restated an "overweight" rating and issued a $44.00 price target (up previously from $42.00) on shares of NiSource in a research note on Monday, August 4th. Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a research note on Saturday, September 27th. BMO Capital Markets lifted their price target on NiSource from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Finally, Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.44.

NiSource Stock Performance

NYSE NI opened at $43.60 on Monday. The stock has a 50-day simple moving average of $41.99 and a two-hundred day simple moving average of $40.36. The firm has a market capitalization of $20.53 billion, a P/E ratio of 23.19, a PEG ratio of 2.99 and a beta of 0.60. NiSource has a fifty-two week low of $33.65 and a fifty-two week high of $44.51. 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 (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share for the quarter, beating 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $0.21 EPS. On average, equities analysts forecast that NiSource will post 1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of NiSource by 15.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,864,138 shares of the utilities provider's stock worth $80,717,000 after purchasing an additional 254,764 shares during the last quarter. HF Advisory Group LLC boosted its holdings in shares of NiSource by 8.0% during the 3rd quarter. HF Advisory Group LLC now owns 54,578 shares of the utilities provider's stock worth $2,363,000 after purchasing an additional 4,030 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of NiSource during the 3rd quarter worth approximately $48,000. GAMMA Investing LLC boosted its holdings in shares of NiSource by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 25,196 shares of the utilities provider's stock worth $1,091,000 after purchasing an additional 2,188 shares during the last quarter. Finally, Capital A Wealth Management LLC boosted its holdings in shares of NiSource by 1,962.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 1,464 shares of the utilities provider's stock worth $59,000 after purchasing an additional 1,393 shares during the last quarter. 91.64% of the stock is currently 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.

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