NiSource Inc. (NYSE:NI) – Equities researchers at Jefferies Group upped their FY2016 EPS estimates for shares of NiSource in a research note issued on Thursday. Jefferies Group analyst C. Sighinolfi now forecasts that the firm will post earnings of $1.08 per share for the year, up from their previous forecast of $1.07. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for NiSource’s Q4 2016 earnings at $0.34 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.17 EPS, FY2018 earnings at $1.22 EPS and FY2020 earnings at $1.29 EPS.
NI has been the topic of a number of other research reports. Credit Suisse Group AG downgraded NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a research report on Friday, August 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Friday, September 23rd. KeyCorp set a $27.00 price target on NiSource and gave the company a “buy” rating in a research report on Monday, September 12th. Argus restated a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Finally, Citigroup Inc. raised their price target on NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.09.
NiSource (NYSE:NI) opened at 22.68 on Friday. The stock has a 50 day moving average price of $23.85 and a 200-day moving average price of $24.37. NiSource has a 52 week low of $18.60 and a 52 week high of $26.94. The firm has a market capitalization of $7.31 billion, a P/E ratio of 27.59 and a beta of 0.25.
NiSource (NYSE:NI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.18 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. MUFG Americas Holdings Corp boosted its position in shares of 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 valued at $117,000 after buying an additional 653 shares during the last quarter. 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 valued at $119,000 after buying an additional 2,068 shares during the last quarter. 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 valued at $124,000 after buying an additional 22 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in NiSource during the second quarter valued at about $193,000. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Teresa M. Smith sold 1,200 shares of the firm’s 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 transaction, the vice president now directly owns 37,883 shares of the company’s stock, valued at $899,721.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.32% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.91%. NiSource’s dividend payout ratio (DPR) is currently 80.49%.
NiSource Company Profile
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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