NiSource, Inc (NYSE:NI) – Jefferies Group boosted their FY2017 EPS estimates for shares of NiSource in a report issued on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the utilities provider will post earnings per share of $1.20 for the year, up from their previous forecast of $1.19. Jefferies Group currently has a “Hold” rating and a $23.00 price objective on the stock.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, July 14th. Ladenburg Thalmann Financial Services started coverage on NiSource in a report on Friday, May 19th. They issued a “buy” rating and a $27.00 price objective on the stock. KeyCorp reiterated a “buy” rating and issued a $29.50 price objective on shares of NiSource in a report on Friday, September 1st. Barclays PLC reiterated an “equal weight” rating and issued a $26.00 price objective (up previously from $25.00) on shares of NiSource in a report on Thursday, June 1st. Finally, Zelman & Associates downgraded NiSource from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.61.
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Shares of NiSource (NYSE:NI) opened at 26.79 on Monday. The firm has a 50 day moving average price of $26.65 and a 200-day moving average price of $25.18. NiSource has a 52-week low of $21.17 and a 52-week high of $27.29. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 31.08 and a beta of 0.39.
NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. NiSource had a return on equity of 9.17% and a net margin of 5.96%. The firm had revenue of $990.70 million for the quarter, compared to analyst estimates of $934.95 million. During the same quarter in the previous year, the company posted $0.09 EPS.
A number of large investors have recently made changes to their positions in NI. Advisory Services Network LLC increased its holdings in NiSource by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 200 shares during the period. CENTRAL TRUST Co increased its holdings in NiSource by 454.0% during the 2nd quarter. CENTRAL TRUST Co now owns 5,839 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 4,785 shares during the period. TCI Wealth Advisors Inc. increased its holdings in NiSource by 0.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 24 shares during the period. LSV Asset Management purchased a new position in NiSource during the 1st quarter valued at about $159,000. Finally, Ameritas Investment Partners Inc. purchased a new position in NiSource during the 1st quarter valued at about $183,000. Institutional investors own 81.96% of the company’s stock.
In other NiSource news, Director Michael E. Jesanis purchased 2,000 shares of NiSource stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average price of $26.44 per share, for a total transaction of $52,880.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at $904,115.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.70 dividend on an annualized basis and a yield of 2.61%. NiSource’s dividend payout ratio is presently 81.40%.
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 Company’s 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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