NiSource (NYSE:NI) Price Target Raised to $38.00 at JPMorgan Chase & Co.

NiSource (NYSE:NI) had its target price raised by JPMorgan Chase & Co. from $36.00 to $38.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company boosted their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on shares of NiSource in a research note on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. BMO Capital Markets increased their price objective on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Evercore ISI lifted their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Barclays increased their target price on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.29.

NiSource Stock Up 1.6 %

Shares of NYSE NI opened at $35.31 on Wednesday. NiSource has a 52-week low of $24.58 and a 52-week high of $35.32. The business’s 50 day moving average is $33.76 and its two-hundred day moving average is $30.68. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.84 and a beta of 0.51. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the prior year, the company earned $0.11 EPS. Research analysts predict that NiSource will post 1.72 EPS for the current year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, October 31st will be paid a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a yield of 3.00%. NiSource’s dividend payout ratio is presently 69.28%.

Institutional Trading of NiSource

Large investors have recently made changes to their positions in the company. Park Avenue Securities LLC boosted its stake in NiSource by 4.5% during the 1st quarter. Park Avenue Securities LLC now owns 34,640 shares of the utilities provider’s stock worth $958,000 after purchasing an additional 1,495 shares during the period. International Assets Investment Management LLC boosted its stake in shares of NiSource by 17.0% during the first quarter. International Assets Investment Management LLC now owns 12,578 shares of the utilities provider’s stock worth $346,000 after buying an additional 1,830 shares during the period. Ballentine Partners LLC purchased a new position in shares of NiSource during the first quarter worth about $211,000. Global Assets Advisory LLC acquired a new position in NiSource in the 1st quarter valued at about $1,203,000. Finally, First Financial Corp IN purchased a new stake in NiSource during the 1st quarter valued at approximately $31,000. 91.64% of the stock is 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.