Analysts Set NiSource Inc. (NYSE:NI) Target Price at $35.50

NiSource Inc. (NYSE:NI) has received a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $36.29.

A number of research analysts recently issued reports on NI shares. JPMorgan Chase & Co. lifted their target price on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI boosted their target price on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Bank of America started coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price objective on the stock. Mizuho began coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price on the stock. Finally, BMO Capital Markets increased their price target on shares of NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th.

Institutional Investors Weigh In On NiSource

A number of institutional investors have recently modified their holdings of NI. Thomasville National Bank lifted its stake in NiSource by 0.7% during the second quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider’s stock valued at $1,548,000 after purchasing an additional 372 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of NiSource by 11.1% during the 1st quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 449 shares during the last quarter. Aurora Investment Counsel lifted its position in shares of NiSource by 0.7% in the second quarter. Aurora Investment Counsel now owns 62,589 shares of the utilities provider’s stock worth $1,803,000 after buying an additional 450 shares during the last quarter. Empirical Finance LLC boosted its position in NiSource by 3.6% during the first quarter. Empirical Finance LLC now owns 14,291 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 490 shares during the period. Finally, Tidal Investments LLC lifted its position in NiSource by 5.4% during the 1st quarter. Tidal Investments LLC now owns 9,728 shares of the utilities provider’s stock worth $269,000 after acquiring an additional 499 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

NiSource Price Performance

Shares of NiSource stock opened at $35.31 on Friday. NiSource has a 12 month low of $24.58 and a 12 month high of $35.32. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The business has a 50 day simple moving average of $33.69 and a two-hundred day simple moving average of $30.65. The stock has a market capitalization of $15.83 billion, a P/E ratio of 23.08, a PEG ratio of 2.84 and a beta of 0.51.

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

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource’s dividend payout ratio (DPR) is currently 69.28%.

NiSource Company Profile

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.