NiSource (NI) Price Target Increased to $31.00 by Analysts at Citigroup

NiSource (NYSE:NI) had its price objective boosted by Citigroup from $28.00 to $31.00 in a research note released on Monday, November 20th. Citigroup currently has a buy rating on the utilities provider’s stock.

NI has been the topic of a number of other research reports. Wells Fargo & Company assumed coverage on shares of NiSource in a research report on Wednesday, August 9th. They issued an outperform rating and a $30.00 target price on the stock. Zacks Investment Research lowered shares of NiSource from a buy rating to a hold rating in a research report on Wednesday, September 20th. Credit Suisse Group raised their target price on shares of NiSource from $29.00 to $30.00 and gave the company an outperform rating in a research report on Thursday, November 2nd. J P Morgan Chase & Co lifted their price target on shares of NiSource from $25.00 to $27.00 and gave the stock a neutral rating in a report on Thursday, October 12th. Finally, KeyCorp reiterated a buy rating and set a $29.50 price target on shares of NiSource in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $27.23.

Shares of NiSource (NYSE:NI) traded up $0.20 during trading on Monday, reaching $27.00. 1,946,075 shares of the company’s stock were exchanged, compared to its average volume of 2,528,042. NiSource has a 1 year low of $21.31 and a 1 year high of $27.76. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32. The firm has a market capitalization of $9,103.53, a price-to-earnings ratio of 23.50, a P/E/G ratio of 3.99 and a beta of 0.36.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. NiSource had a net margin of 5.61% and a return on equity of 8.97%. The firm had revenue of $917.00 million for the quarter, compared to analyst estimates of $901.00 million. During the same quarter last year, the business posted $0.06 earnings per share. research analysts expect that NiSource will post 1.19 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. raised its stake in NiSource by 0.4% during the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after buying an additional 24 shares during the last quarter. ING Groep NV raised its stake in NiSource by 0.4% during the second quarter. ING Groep NV now owns 16,563 shares of the utilities provider’s stock worth $420,000 after buying an additional 59 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in NiSource by 0.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock worth $295,000 after buying an additional 68 shares during the last quarter. CIBC Asset Management Inc raised its stake in NiSource by 0.4% during the second quarter. CIBC Asset Management Inc now owns 30,131 shares of the utilities provider’s stock worth $764,000 after buying an additional 124 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in NiSource by 1.2% during the second quarter. D.A. Davidson & CO. now owns 11,644 shares of the utilities provider’s stock worth $295,000 after buying an additional 134 shares during the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.

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NiSource Company Profile

NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.

Analyst Recommendations for NiSource (NYSE:NI)

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