NiSource Inc. (NYSE:NI) – Equities researchers at Jefferies Group lowered their FY2019 EPS estimates for NiSource in a research note issued to investors on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the brokerage will earn $1.24 per share for the year, down from their previous estimate of $1.27. Jefferies Group has a “Hold” rating on the stock.
NiSource (NYSE:NI) last announced 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 net margin of 6.18% and a return on equity of 8.75%. During the same period last year, the business posted $0.18 EPS.
Other equities analysts have also issued research reports about the stock. KeyCorp set a $27.00 price objective on shares of NiSource and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Friday, September 23rd. Argus reissued a “hold” rating on shares of NiSource in a research report on Monday, July 11th. Credit Suisse Group AG set a $25.00 price target on shares of NiSource and gave the stock a “hold” rating in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $26.00 price target on shares of NiSource in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.09.
Shares of NiSource (NYSE:NI) traded down 0.95% during midday trading on Monday, hitting $22.84. 2,156,570 shares of the stock were exchanged. The firm has a 50 day moving average of $23.78 and a 200 day moving average of $24.38. NiSource has a 12-month low of $18.60 and a 12-month high of $26.94. The firm has a market cap of $7.36 billion, a P/E ratio of 27.79 and a beta of 0.25.
A number of large investors have recently added to or reduced their stakes in NI. MUFG Americas Holdings Corp increased 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 valued at $110,000 after buying an additional 100 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased 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 in the last quarter. TCI Wealth Advisors Inc. increased 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 in the last quarter. Advisory Services Network LLC increased 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 in the last quarter. Finally, AIMZ Investment Advisors LLC acquired a new stake in NiSource during the first quarter valued at about $267,000. Institutional investors own 82.30% of the company’s stock.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were 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 in the company, valued at $899,721.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders 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 annualized dividend and a yield of 2.89%. NiSource’s dividend payout ratio 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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