NiSource (NYSE:NI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $27.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.17% from the company’s previous close.
According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy. NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”
Other research analysts have also recently issued research reports about the company. Goldman Sachs Group upgraded NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Wednesday, January 10th. JPMorgan Chase & Co. raised their price target on NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Credit Suisse Group raised their price target on NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Edward Jones upgraded NiSource from a “hold” rating to a “buy” rating in a research report on Tuesday, January 9th. Finally, Jefferies Group restated a “hold” rating and issued a $26.00 price target on shares of NiSource in a research report on Wednesday, December 20th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. NiSource presently has a consensus rating of “Buy” and a consensus price target of $27.32.
NiSource (NYSE:NI) last announced its quarterly 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 return on equity of 8.97% and a net margin of 5.61%. The business had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. During the same quarter last year, the business posted $0.06 earnings per share. analysts forecast that NiSource will post 1.2 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of NiSource by 31.3% during the second quarter. FMR LLC now owns 855,250 shares of the utilities provider’s stock valued at $21,689,000 after acquiring an additional 203,941 shares during the last quarter. Swiss National Bank boosted its stake in shares of NiSource by 1.1% during the third quarter. Swiss National Bank now owns 1,191,700 shares of the utilities provider’s stock valued at $30,496,000 after acquiring an additional 13,200 shares during the last quarter. Intl Fcstone Inc. boosted its stake in shares of NiSource by 79.0% during the second quarter. Intl Fcstone Inc. now owns 29,133 shares of the utilities provider’s stock valued at $739,000 after acquiring an additional 12,862 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of NiSource by 8.7% during the third quarter. Prudential Financial Inc. now owns 660,083 shares of the utilities provider’s stock valued at $16,892,000 after acquiring an additional 52,620 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of NiSource by 2.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,474,798 shares of the utilities provider’s stock valued at $37,741,000 after acquiring an additional 39,203 shares during the last quarter. 82.20% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “NiSource (NI) Upgraded at Zacks Investment Research” was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://stocknewstimes.com/2018/01/16/nisource-ni-upgraded-at-zacks-investment-research.html.
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.
Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.