NiSource (NYSE:NI) Sets New 52-Week High at $33.22

NiSource Inc. (NYSE:NI - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $33.22 and last traded at $33.18, with a volume of 408838 shares trading hands. The stock had previously closed at $33.06.

Wall Street Analysts Forecast Growth

NI has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on shares of NiSource from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, July 16th. Mizuho began coverage on shares of NiSource in a research report on Thursday, July 11th. They issued an "outperform" rating and a $33.00 price target on the stock. Evercore ISI boosted their price target on shares of NiSource from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Finally, Barclays boosted 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, NiSource presently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

NiSource Stock Up 0.4 %

The stock's fifty day moving average price is $30.84 and its 200 day moving average price is $28.76. The stock has a market cap of $14.87 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 3.20 and a beta of 0.50. The company has a current ratio of 0.78, a quick ratio of 0.63 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, research 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. Shareholders of record on Thursday, October 31st will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.06 annualized dividend and a yield of 3.19%. NiSource's payout ratio is currently 69.28%.

Institutional Investors Weigh In On NiSource

Several institutional investors have recently added to or reduced their stakes in NI. Ashton Thomas Private Wealth LLC purchased a new stake in shares of NiSource in the 2nd quarter worth about $25,000. MCF Advisors LLC bought a new position in shares of NiSource in the 2nd quarter worth about $25,000. Crewe Advisors LLC bought a new position in shares of NiSource in the 1st quarter worth about $31,000. First Financial Corp IN bought a new position in shares of NiSource in the 1st quarter worth about $31,000. Finally, Family Firm Inc. bought a new position in shares of NiSource in the 2nd quarter worth about $43,000. Hedge funds and other 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.