NiSource (NYSE:NI) had its target price decreased by Barclays from $31.00 to $24.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential downside of 0.66% from the company’s previous close.
NI has been the topic of a number of other reports. Jefferies Financial Group upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, March 18th. Evercore ISI upgraded NiSource from an “in-line” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research note on Monday, January 27th. Bank of America upgraded NiSource from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Tuesday, January 7th. Wolfe Research upgraded NiSource from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Wednesday, January 15th. Finally, UBS Group reduced their target price on NiSource from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. NiSource presently has a consensus rating of “Buy” and a consensus target price of $29.75.
Shares of NYSE:NI traded up $1.33 during midday trading on Thursday, reaching $24.16. 328,689 shares of the company traded hands, compared to its average volume of 6,079,623. The company has a quick ratio of 0.38, a current ratio of 0.49 and a debt-to-equity ratio of 1.54. NiSource has a 12 month low of $19.56 and a 12 month high of $30.67. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.36 and a beta of 0.30. The firm’s fifty day moving average price is $27.44 and its two-hundred day moving average price is $27.87.
NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. NiSource had a return on equity of 10.13% and a net margin of 7.37%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.51 billion. Analysts forecast that NiSource will post 1.34 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in NiSource by 5.0% during the 4th quarter. State Street Corp now owns 20,094,350 shares of the utilities provider’s stock valued at $559,427,000 after purchasing an additional 960,047 shares during the last quarter. Zimmer Partners LP raised its position in NiSource by 12.1% during the 3rd quarter. Zimmer Partners LP now owns 14,725,914 shares of the utilities provider’s stock valued at $440,599,000 after purchasing an additional 1,584,709 shares during the last quarter. Newport Trust Co bought a new position in NiSource during the 4th quarter valued at approximately $237,211,000. Mitsubishi UFJ Trust & Banking Corp raised its position in NiSource by 8.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,637,418 shares of the utilities provider’s stock valued at $184,786,000 after purchasing an additional 490,759 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in NiSource by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 5,744,548 shares of the utilities provider’s stock valued at $159,601,000 after purchasing an additional 218,879 shares during the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.
NiSource Company Profile
NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.
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