NiSource Inc. (NYSE:NI) Receives Average Recommendation of “Buy” from Analysts

Posted by on Jun 18th, 2022

NiSource Inc. (NYSE:NI – Get Rating) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $31.40.

A number of brokerages have recently weighed in on NI. Wells Fargo & Company upped their price target on shares of NiSource from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. StockNews.com started coverage on shares of NiSource in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Credit Suisse Group started coverage on shares of NiSource in a report on Monday, April 25th. They issued a “neutral” rating and a $32.00 target price on the stock.

NiSource stock opened at $26.66 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $30.41 and a two-hundred day moving average price of $29.22. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.66 and a beta of 0.35. NiSource has a 52-week low of $23.65 and a 52-week high of $32.58.

NiSource (NYSE:NI – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.69 billion. NiSource had a return on equity of 11.34% and a net margin of 13.70%. During the same period in the prior year, the company posted $0.77 earnings per share. Research analysts expect that NiSource will post 1.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, July 29th will be issued a $0.235 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 3.53%. NiSource’s payout ratio is currently 61.44%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of NiSource during the fourth quarter valued at approximately $1,676,000. BNP Paribas Arbitrage SA increased its stake in NiSource by 50.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 349,807 shares of the utilities provider’s stock valued at $8,476,000 after buying an additional 117,149 shares during the period. Sequoia Financial Advisors LLC acquired a new position in NiSource in the 4th quarter valued at approximately $3,108,000. Adage Capital Partners GP L.L.C. increased its stake in NiSource by 45.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 798,462 shares of the utilities provider’s stock valued at $22,046,000 after buying an additional 248,100 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in NiSource by 41.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,381,731 shares of the utilities provider’s stock valued at $65,760,000 after buying an additional 701,468 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

NiSource Company Profile (Get Rating)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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