ValuEngine upgraded shares of NiSource (NYSE:NI) from a sell rating to a hold rating in a research report sent to investors on Friday.
NI has been the topic of a number of other research reports. Zacks Investment Research lowered shares of NiSource from a buy rating to a hold rating in a report on Wednesday, April 11th. Citigroup lowered shares of NiSource from a buy rating to a neutral rating and decreased their price target for the company from $31.00 to $25.00 in a report on Tuesday, March 27th. TheStreet upgraded shares of NiSource from a c rating to a b rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. upgraded shares of NiSource from a neutral rating to an overweight rating and lifted their price target for the company from $24.40 to $26.00 in a report on Thursday, May 17th. Finally, Credit Suisse Group lifted their price target on shares of NiSource to $27.00 and gave the company an outperform rating in a report on Monday, May 7th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. NiSource currently has an average rating of Buy and an average target price of $26.50.
Shares of NiSource opened at $25.06 on Friday, according to MarketBeat.com. The company has a market cap of $8.37 billion, a P/E ratio of 20.71, a PEG ratio of 3.51 and a beta of 0.28. NiSource has a 1 year low of $22.44 and a 1 year high of $27.76. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.62.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Tuesday, July 31st will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, July 30th. This represents a $0.78 annualized dividend and a dividend yield of 3.11%. NiSource’s payout ratio is 64.46%.
In other NiSource news, Director Eric L. Butler bought 4,000 shares of NiSource stock in a transaction that occurred on Wednesday, May 9th. The shares were acquired at an average price of $24.83 per share, for a total transaction of $99,320.00. Following the acquisition, the director now owns 13,687 shares of the company’s stock, valued at approximately $339,848.21. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Teresa M. Smith sold 15,748 shares of NiSource stock in a transaction on Monday, May 7th. The shares were sold at an average price of $25.35, for a total transaction of $399,211.80. Following the transaction, the vice president now owns 11,873 shares in the company, valued at approximately $300,980.55. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in NiSource by 20.8% during the 1st quarter. BlackRock Inc. now owns 29,932,704 shares of the utilities provider’s stock worth $715,690,000 after buying an additional 5,153,328 shares during the period. Maple Brown Abbott Ltd increased its stake in NiSource by 5.4% during the 1st quarter. Maple Brown Abbott Ltd now owns 3,637,118 shares of the utilities provider’s stock worth $86,963,000 after buying an additional 185,900 shares during the period. Neuberger Berman Group LLC increased its stake in NiSource by 3.7% during the 1st quarter. Neuberger Berman Group LLC now owns 3,632,272 shares of the utilities provider’s stock worth $86,848,000 after buying an additional 131,058 shares during the period. Millennium Management LLC increased its stake in NiSource by 38.6% during the 4th quarter. Millennium Management LLC now owns 3,591,733 shares of the utilities provider’s stock worth $92,200,000 after buying an additional 999,678 shares during the period. Finally, Geode Capital Management LLC increased its stake in NiSource by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 3,561,143 shares of the utilities provider’s stock worth $91,226,000 after buying an additional 234,175 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.
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 to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.
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