NiSource (NYSE:NI) Price Target Raised to $44.00 at Mizuho

NiSource (NYSE:NI - Get Free Report) had its target price upped by equities research analysts at Mizuho from $42.00 to $44.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the utilities provider's stock. Mizuho's price objective indicates a potential upside of 10.34% from the stock's current price.

Several other brokerages also recently weighed in on NI. UBS Group increased their price target on NiSource from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Wells Fargo & Company raised their target price on NiSource from $39.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NiSource has an average rating of "Buy" and an average target price of $39.33.

NiSource Stock Performance

Shares of NYSE:NI traded up $0.13 during trading on Wednesday, hitting $39.88. The stock had a trading volume of 3,594,255 shares, compared to its average volume of 4,007,981. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. NiSource has a 12-month low of $26.26 and a 12-month high of $41.45. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. The stock has a 50-day simple moving average of $38.93 and a two-hundred day simple moving average of $36.87.

Remove Ads

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 analysts' consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities research analysts expect that NiSource will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the sale, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. The trade was a 18.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On NiSource

Several hedge funds and other institutional investors have recently made changes to their positions in NI. Canada Post Corp Registered Pension Plan acquired a new position in NiSource in the 4th quarter valued at $27,000. Brooklyn Investment Group grew its holdings in shares of 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 in the last quarter. Spire Wealth Management acquired a new stake in shares of NiSource in the fourth quarter valued at about $39,000. Catalyst Capital Advisors LLC purchased a new position in shares of NiSource in the fourth quarter worth about $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in NiSource during the third quarter worth about $47,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

NiSource Company Profile

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.