NiSource (NI) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of NiSource (NYSE:NI) from a hold rating to a buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $27.00 price objective on the utilities provider’s stock.

According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy.  NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”

NI has been the topic of several other reports. Credit Suisse Group increased their target price on NiSource from $29.00 to $30.00 and gave the company an outperform rating in a research note on Thursday, November 2nd. JPMorgan Chase & Co. increased their target price on NiSource from $25.00 to $27.00 and gave the company a neutral rating in a research note on Thursday, October 12th. Edward Jones raised NiSource from a hold rating to a buy rating in a report on Tuesday, January 9th. Goldman Sachs Group raised NiSource from a neutral rating to a buy rating and set a $23.00 price target on the stock in a report on Wednesday, January 10th. Finally, KeyCorp reissued a buy rating and set a $29.50 price target on shares of NiSource in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $27.32.

Shares of NiSource (NI) traded down $0.04 on Tuesday, reaching $23.94. The company’s stock had a trading volume of 2,586,188 shares, compared to its average volume of 2,881,869. The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 1.72. NiSource has a 1-year low of $21.65 and a 1-year high of $27.76. The stock has a market cap of $8,040.00, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 3.18 and a beta of 0.43.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. NiSource had a return on equity of 8.97% and a net margin of 5.61%. The business had revenue of $917.00 million for the quarter, compared to the consensus estimate of $901.00 million. During the same period last year, the business posted $0.06 EPS. equities analysts expect that NiSource will post 1.2 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC bought a new position in NiSource in the 3rd quarter worth $113,000. Valeo Financial Advisors LLC bought a new position in NiSource in the 3rd quarter worth $114,000. First Quadrant L P CA bought a new position in NiSource in the 3rd quarter worth $114,000. Advisory Services Network LLC raised its holdings in NiSource by 4.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 200 shares during the period. Finally, Peapack Gladstone Financial Corp bought a new position in NiSource in the 2nd quarter worth $202,000. 82.20% of the stock is currently owned by hedge funds and other institutional investors.

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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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