NiSource Inc. (NYSE:NI - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $32.39 and last traded at $32.35, with a volume of 1817889 shares. The stock had previously closed at $32.15.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on NI shares. Barclays lifted their price target on shares of NiSource from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. Mizuho started coverage on NiSource in a report on Thursday, July 11th. They set an "outperform" rating and a $33.00 price objective for the company. Evercore ISI upped their target price on NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Finally, BMO Capital Markets lifted their price target on NiSource from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.
Read Our Latest Analysis on NI
NiSource Trading Up 0.5 %
The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. The business has a 50 day moving average of $30.03 and a 200 day moving average of $28.29. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.
NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.06. NiSource had a net margin of 14.23% and a return on equity of 9.56%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, research analysts forecast that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.
NiSource Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be given a $0.265 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.28%. NiSource's dividend payout ratio is presently 69.28%.
Insider Buying and Selling
In other NiSource news, SVP Melanie B. Berman sold 3,742 shares of the business's stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $27.96, for a total transaction of $104,626.32. Following the completion of the sale, the senior vice president now owns 19,978 shares of the company's stock, valued at $558,584.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On NiSource
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its holdings in NiSource by 23.8% in the first quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider's stock valued at $53,000 after acquiring an additional 369 shares in the last quarter. Thomasville National Bank grew its stake in NiSource by 0.7% in the second quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider's stock worth $1,548,000 after purchasing an additional 372 shares in the last quarter. Beacon Pointe Advisors LLC increased its holdings in NiSource by 3.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider's stock valued at $350,000 after buying an additional 405 shares during the last quarter. Sound Income Strategies LLC raised its stake in NiSource by 11.1% during the first quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider's stock valued at $124,000 after buying an additional 449 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in NiSource by 7.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider's stock worth $164,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.
About NiSource
(
Get Free Report)
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.
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