NiSource, Inc (NI) Given New $31.00 Price Target at Citigroup Inc.
NiSource, Inc (NYSE:NI) had its target price hoisted by Citigroup Inc. from $28.00 to $31.00 in a report issued on Monday morning. Citigroup Inc. currently has a buy rating on the utilities provider’s stock.
A number of other research firms have also commented on NI. KeyCorp reaffirmed a buy rating and issued a $29.50 price target on shares of NiSource in a report on Friday, September 1st. Credit Suisse Group raised NiSource from an underperform rating to an outperform rating and raised their price target for the stock from $25.00 to $29.00 in a report on Monday, August 14th. Zacks Investment Research raised NiSource from a hold rating to a buy rating and set a $29.00 price target for the company in a report on Friday, September 22nd. J P Morgan Chase & Co raised their price target on NiSource from $25.00 to $27.00 and gave the stock a neutral rating in a report on Thursday, October 12th. Finally, Wells Fargo & Company initiated coverage on NiSource in a report on Wednesday, August 9th. They issued an outperform rating and a $30.00 price target for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $27.23.
NiSource (NYSE NI) opened at $27.09 on Monday. NiSource has a twelve month low of $21.31 and a twelve month high of $27.76. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.52 and a quick ratio of 0.32. The company has a market capitalization of $9,120.00, a price-to-earnings ratio of 23.55, a PEG ratio of 4.00 and a beta of 0.43.
NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.07 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.07. NiSource had a return on equity of 8.97% and a net margin of 5.61%. The firm had revenue of $917.00 million during the quarter, compared to analyst estimates of $901.00 million. During the same period last year, the company earned $0.06 earnings per share. research analysts anticipate that NiSource will post 1.19 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Tortoise Investment Management LLC purchased a new stake in shares of NiSource in the third quarter worth $113,000. First Quadrant L P CA purchased a new stake in NiSource during the third quarter valued at about $114,000. Valeo Financial Advisors LLC purchased a new stake in NiSource during the third quarter valued at about $114,000. Advisory Services Network LLC raised its position in NiSource by 4.4% during the second 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 in the last quarter. Finally, TCI Wealth Advisors Inc. raised its position in NiSource by 0.4% during the second 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 in the last quarter. Institutional investors own 78.36% of the company’s stock.
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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