NiSource (NYSE:NI) Price Target Raised to $43.00

NiSource (NYSE:NI) had its price target upped by analysts at Wells Fargo & Company from $39.00 to $43.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.20% from the stock’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Mizuho upped their price objective on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group initiated coverage on NiSource in a report on Monday, October 28th. They set a “buy” rating and a $39.00 price objective for the company. Finally, Barclays upped their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.13.

NiSource Trading Up 0.4 %

Shares of NiSource stock opened at $39.74 on Thursday. NiSource has a fifty-two week low of $25.45 and a fifty-two week high of $39.99. The firm has a market cap of $18.55 billion, a PE ratio of 24.09, a P/E/G ratio of 2.50 and a beta of 0.54. The business’s fifty day moving average is $37.09 and its two-hundred day moving average is $35.30. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 8.27% and a net margin of 14.63%. During the same period in the previous year, the business posted $0.53 EPS. Analysts anticipate that NiSource will post 1.73 earnings per share for the current year.

Institutional Trading of NiSource

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of NiSource by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 57,793,581 shares of the utilities provider’s stock valued at $2,124,492,000 after acquiring an additional 2,459,452 shares in the last quarter. State Street Corp grew its stake in shares of NiSource by 5.8% during the third quarter. State Street Corp now owns 22,691,174 shares of the utilities provider’s stock valued at $786,249,000 after acquiring an additional 1,247,368 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of NiSource by 10.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,370,032 shares of the utilities provider’s stock valued at $785,563,000 after acquiring an additional 1,965,334 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of NiSource by 88.4% during the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after acquiring an additional 6,991,608 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of NiSource by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 11,448,075 shares of the utilities provider’s stock valued at $419,765,000 after acquiring an additional 700,747 shares in 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.