Jefferies Group upgraded shares of NiSource Inc. (NYSE:NI) from an underperform rating to a hold rating in a research report report published on Thursday.
A number of other equities research analysts have also recently weighed in on NI. Zacks Investment Research cut NiSource from a buy rating to a hold rating in a research note on Tuesday, July 26th. JPMorgan Chase & Co. reaffirmed a hold rating and issued a $26.00 price objective on shares of NiSource in a research note on Wednesday, August 3rd. Credit Suisse Group AG set a $25.00 price objective on NiSource and gave the company a hold rating in a research note on Monday, August 8th. Argus reiterated a hold rating on shares of NiSource in a report on Monday, July 11th. Finally, KeyCorp set a $27.00 target price on NiSource and gave the company a buy rating in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. NiSource has a consensus rating of Hold and a consensus price target of $25.09.
NiSource (NYSE:NI) opened at 22.91 on Thursday. The company’s 50-day moving average price is $23.82 and its 200 day moving average price is $24.38. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 27.87 and a beta of 0.25. NiSource has a 12 month low of $18.60 and a 12 month high of $26.94.
NiSource (NYSE:NI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. NiSource had a return on equity of 8.75% and a net margin of 6.18%. During the same period in the previous year, the firm earned $0.18 earnings per share. Analysts predict that NiSource will post $1.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 27th. NiSource’s dividend payout ratio (DPR) is 80.49%.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of NiSource stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $23.75, for a total transaction of $28,500.00. Following the completion of the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.
Several hedge funds have recently bought and sold shares of NI. MUFG Americas Holdings Corp boosted its stake in NiSource by 2.5% in the second quarter. MUFG Americas Holdings Corp now owns 4,149 shares of the company’s stock worth $110,000 after buying an additional 100 shares during the period. Advisory Services Network LLC boosted its stake in NiSource by 15.5% in the third quarter. Advisory Services Network LLC now owns 4,853 shares of the company’s stock worth $117,000 after buying an additional 653 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in NiSource by 84.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,503 shares of the company’s stock worth $119,000 after buying an additional 2,068 shares during the period. TCI Wealth Advisors Inc. boosted its stake in NiSource by 0.5% in the second quarter. TCI Wealth Advisors Inc. now owns 4,671 shares of the company’s stock worth $124,000 after buying an additional 22 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in NiSource during the second quarter worth approximately $193,000. Institutional investors and hedge funds own 82.30% of the company’s stock.