NiSource Inc. (NYSE:NI) Receives Consensus Recommendation of "Buy" from Brokerages

NiSource Inc. (NYSE:NI - Get Free Report) has been assigned a consensus rating of "Buy" from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $31.00.

Several research analysts recently issued reports on NI shares. BMO Capital Markets increased their price target on shares of NiSource from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, July 16th. Barclays raised their target price on NiSource from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, August 13th. Mizuho started coverage on shares of NiSource in a report on Thursday, July 11th. They issued an "outperform" rating and a $33.00 price target for the company. Finally, Evercore ISI boosted their price objective on shares of NiSource from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th.

Hedge Funds Weigh In On NiSource

A number of institutional investors have recently modified their holdings of the company. TCW Group Inc. increased its position in NiSource by 7.8% during the fourth quarter. TCW Group Inc. now owns 792,187 shares of the utilities provider's stock worth $21,033,000 after purchasing an additional 57,498 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of NiSource by 7.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 438,845 shares of the utilities provider's stock worth $12,144,000 after acquiring an additional 29,055 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of NiSource by 12.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 515,724 shares of the utilities provider's stock worth $14,265,000 after acquiring an additional 57,658 shares in the last quarter. Sei Investments Co. increased its position in shares of NiSource by 26.0% in the first quarter. Sei Investments Co. now owns 796,693 shares of the utilities provider's stock worth $22,036,000 after acquiring an additional 164,532 shares in the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of NiSource in the first quarter worth $9,686,000. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Stock Up 0.7 %

NYSE NI traded up $0.24 on Friday, hitting $33.06. 9,595,740 shares of the stock were exchanged, compared to its average volume of 4,267,960. 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 has a fifty-two week low of $22.86 and a fifty-two week high of $33.13. The company has a market cap of $14.82 billion, a PE ratio of 21.61, a PEG ratio of 3.07 and a beta of 0.50. The company has a 50-day moving average price of $30.76 and a 200-day moving average price of $28.67.

NiSource (NYSE:NI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.16 billion. During the same quarter in the prior year, the business posted $0.11 EPS. Sell-side analysts anticipate that NiSource will post 1.72 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, October 31st. NiSource's dividend payout ratio is presently 69.28%.

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.