NiSource (NYSE:NI) Sets New 1-Year High – Here’s What Happened

NiSource, Inc (NYSE:NI) shares hit a new 52-week high on Thursday . The company traded as high as $44.95 and last traded at $44.55, with a volume of 436614 shares traded. The stock had previously closed at $44.33.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NI. Jefferies Financial Group raised shares of NiSource from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $50.00 in a research report on Friday, October 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $49.00 target price on shares of NiSource in a research note on Thursday. Barclays set a $45.00 price target on NiSource in a report on Monday, December 8th. Evercore ISI upped their price objective on NiSource from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company raised their price objective on NiSource from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and an average target price of $47.11.

NiSource Stock Down 0.8%

The company has a market cap of $21.14 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 3.67 and a beta of 0.65. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.52 and a quick ratio of 0.39. The firm has a 50-day moving average price of $42.51 and a 200 day moving average price of $42.39.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $983.25 million. NiSource had a net margin of 14.15% and a return on equity of 8.09%. During the same quarter last year, the firm earned $0.20 earnings per share. Sell-side analysts predict that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 3rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. This is a boost from NiSource’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, February 3rd. NiSource’s dividend payout ratio is currently 59.26%.

Insiders Place Their Bets

In other NiSource news, EVP Kimberly S. Cuccia sold 8,000 shares of NiSource stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $43.13, for a total value of $345,040.00. Following the completion of the sale, the executive vice president owned 41,247 shares in the company, valued at $1,778,983.11. The trade was a 16.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NI. Tower Bridge Advisors lifted its position in NiSource by 1.1% during the third quarter. Tower Bridge Advisors now owns 21,132 shares of the utilities provider’s stock worth $915,000 after purchasing an additional 232 shares during the period. Choreo LLC raised its position in shares of NiSource by 2.7% in the 4th quarter. Choreo LLC now owns 8,769 shares of the utilities provider’s stock valued at $369,000 after buying an additional 234 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of NiSource by 1.6% during the 3rd quarter. Advisory Services Network LLC now owns 14,951 shares of the utilities provider’s stock worth $647,000 after acquiring an additional 234 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of NiSource by 1.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 14,319 shares of the utilities provider’s stock worth $626,000 after acquiring an additional 245 shares during the period. Finally, Prosperity Consulting Group LLC boosted its position in shares of NiSource by 1.1% during the 3rd quarter. Prosperity Consulting Group LLC now owns 23,565 shares of the utilities provider’s stock worth $1,020,000 after acquiring an additional 246 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

NiSource Company Profile

NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.