Analysts Set NiSource Inc. (NYSE:NI) Price Target at $39.33

Shares of NiSource Inc. (NYSE:NI) have been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $39.33.

A number of research firms recently issued reports on NI. Wells Fargo & Company raised their price target on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Mizuho lifted their target price on shares of NiSource from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, March 26th. Finally, UBS Group upped their price target on shares of NiSource from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 21st.

Insider Transactions at NiSource

In other news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the sale, the chief accounting officer now directly owns 24,758 shares of the company’s stock, valued at $988,339.36. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On NiSource

Several institutional investors have recently made changes to their positions in NI. Integrated Wealth Concepts LLC increased its position in shares of NiSource by 1.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider’s stock valued at $514,000 after buying an additional 256 shares in the last quarter. Securian Asset Management Inc. increased its holdings in NiSource by 1.1% during the 4th quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider’s stock valued at $922,000 after acquiring an additional 282 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in NiSource by 4.2% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 291 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of NiSource by 64.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 299 shares in the last quarter. Finally, Aviso Financial Inc. grew its position in shares of NiSource by 1.0% in the fourth quarter. Aviso Financial Inc. now owns 31,450 shares of the utilities provider’s stock valued at $1,156,000 after purchasing an additional 300 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Up 1.9 %

NI stock opened at $39.21 on Friday. The company’s 50 day moving average is $39.21 and its two-hundred day moving average is $37.28. NiSource has a twelve month low of $26.26 and a twelve month high of $41.45. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. The stock has a market cap of $18.45 billion, a P/E ratio of 24.20, a PEG ratio of 2.56 and a beta of 0.48.

NiSource (NYSE:NI) last announced 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 net margin of 13.94% and a return on equity of 7.87%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Research analysts expect that NiSource will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Wednesday, April 30th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, April 30th. NiSource’s dividend payout ratio (DPR) is presently 69.14%.

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.