NiSource (NYSE:NI) Sets New 1-Year High at $33.06

Shares of NiSource Inc. (NYSE:NI - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.06 and last traded at $33.01, with a volume of 104638 shares trading hands. The stock had previously closed at $32.72.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays raised their price target on shares of NiSource from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. BMO Capital Markets increased their price objective on shares of NiSource from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 16th. Evercore ISI increased their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, Mizuho initiated coverage on shares of NiSource in a research report on Thursday, July 11th. They set an "outperform" rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

NiSource Price Performance

The stock has a market capitalization of $14.73 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. The business's 50 day simple moving average is $30.48 and its two-hundred day simple moving average is $28.56. 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 released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.11 earnings per share. As a group, sell-side analysts forecast that NiSource Inc. will post 1.72 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, October 31st will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, October 31st. NiSource's payout ratio is currently 69.28%.

Insider Activity at NiSource

In related news, SVP Melanie B. Berman sold 3,742 shares of the firm's stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $27.96, for a total transaction of $104,626.32. Following the transaction, the senior vice president now directly owns 19,978 shares of the company's stock, valued at $558,584.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Institutional Trading of NiSource

Several hedge funds have recently added to or reduced their stakes in NI. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource in the second quarter valued at approximately $25,000. MCF Advisors LLC purchased a new stake in shares of NiSource during the 2nd quarter valued at approximately $25,000. Crewe Advisors LLC purchased a new stake in shares of NiSource during the 1st quarter valued at approximately $31,000. First Financial Corp IN purchased a new stake in shares of NiSource during the 1st quarter valued at approximately $31,000. Finally, Family Firm Inc. purchased a new stake in shares of NiSource during the 2nd quarter valued at approximately $43,000. Institutional investors 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.