NiSource (NYSE:NI) Sets New 12-Month High - Here's What Happened

NiSource Inc. (NYSE:NI - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $38.94 and last traded at $38.83, with a volume of 2555285 shares changing hands. The stock had previously closed at $38.43.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NI. Jefferies Financial Group began coverage on NiSource in a report on Monday, October 28th. They set a "buy" rating and a $39.00 price objective for the company. Mizuho increased their target price on NiSource from $38.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Barclays increased their target price on NiSource from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. increased their target price on NiSource from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.13.

NiSource Stock Up 0.4 %

The stock has a 50 day moving average price of $37.09 and a 200-day moving average price of $35.36. The stock has a market capitalization of $18.55 billion, a P/E ratio of 24.09, a PEG ratio of 2.50 and a beta of 0.54. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.05). NiSource had a net margin of 14.63% and a return on equity of 8.27%. During the same period in the prior year, the firm earned $0.53 EPS. As a group, research analysts expect that NiSource Inc. will post 1.73 EPS for the current fiscal year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This is a positive change from NiSource's previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 2.82%. NiSource's dividend payout ratio (DPR) is 67.88%.

Institutional Trading of NiSource

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Post Corp Registered Pension Plan purchased a new stake in NiSource in the fourth quarter worth about $27,000. Brooklyn Investment Group lifted its holdings in NiSource by 153.2% in 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 period. Capital Performance Advisors LLP purchased a new stake in NiSource in the third quarter worth about $33,000. Spire Wealth Management purchased a new position in shares of NiSource during the fourth quarter valued at approximately $39,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of NiSource during the fourth quarter valued at approximately $40,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.