NiSource (NYSE:NI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

NiSource (NYSE:NI - Get Free Report) had its target price upped by research analysts at Wells Fargo & Company from $39.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 8.20% from the company's current price.

Several other analysts have also issued reports on the stock. Jefferies Financial Group began coverage on shares of NiSource in a research report on Monday, October 28th. They set a "buy" rating and a $39.00 price target on the stock. Barclays raised their target price on shares of NiSource from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of NiSource from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Mizuho raised their target price on shares of NiSource from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.13.

NiSource Price Performance

Shares of NYSE NI traded up $0.14 during trading hours on Thursday, hitting $39.74. 5,293,853 shares of the stock were exchanged, compared to its average volume of 3,520,772. 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 company has a market cap of $18.55 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.50 and a beta of 0.54. The company's fifty day simple moving average is $37.09 and its two-hundred day simple moving average is $35.36. NiSource has a 1-year low of $25.45 and a 1-year high of $39.99.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a return on equity of 8.27% and a net margin of 14.63%. During the same quarter last year, the business posted $0.53 EPS. On average, sell-side analysts predict that NiSource will post 1.73 EPS for the current year.

Hedge Funds Weigh In On NiSource

Hedge funds have recently modified their holdings of the business. Canada Post Corp Registered Pension Plan acquired a new position in shares of NiSource during the fourth quarter worth $27,000. Brooklyn Investment Group raised its stake in NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock worth $32,000 after buying an additional 527 shares during the last quarter. Capital Performance Advisors LLP bought a new position in NiSource during the third quarter worth $33,000. Spire Wealth Management bought a new position in NiSource during the fourth quarter worth $39,000. Finally, Catalyst Capital Advisors LLC bought a new position in NiSource during the fourth quarter worth $40,000. Institutional investors and hedge funds 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.