NiSource Inc. (NYSE:NI) Receives $37.50 Average Target Price from Analysts

NiSource Inc. (NYSE:NI) has earned an average rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $37.50.

A number of research firms have commented on NI. BMO Capital Markets raised their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Jefferies Financial Group started coverage on NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 target price on the stock. Mizuho lifted their price target on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America started coverage on NiSource in a research report on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company.

NiSource Price Performance

NYSE NI opened at $36.57 on Wednesday. The company has a market capitalization of $17.07 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The business’s fifty day moving average is $34.67 and its 200 day moving average is $31.59. NiSource has a fifty-two week low of $24.80 and a fifty-two week high of $36.74.

NiSource (NYSE:NI) last released its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. NiSource’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Sell-side analysts predict that NiSource will post 1.73 earnings per share for the current year.

Institutional Trading of NiSource

Large investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in NiSource in the second quarter worth approximately $25,000. MCF Advisors LLC acquired a new position in shares of NiSource during the second quarter worth $25,000. Capital Performance Advisors LLP acquired a new position in shares of NiSource during the third quarter worth $33,000. Crewe Advisors LLC acquired a new position in shares of NiSource during the first quarter worth $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of NiSource during the third quarter worth $47,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.