NiSource (NYSE:NI) Price Target Raised to $35.00 at Wells Fargo & Company

NiSource (NYSE:NIGet Rating) had its target price raised by equities research analysts at Wells Fargo & Company from $31.00 to $35.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.27% from the stock’s previous close.

Several other research firms have also weighed in on NI. Evercore ISI raised shares of NiSource from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $27.00 to $30.00 in a report on Tuesday, January 25th. StockNews.com started coverage on shares of NiSource in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet upgraded NiSource from a “c” rating to a “b-” rating in a research report on Monday, December 20th. Zacks Investment Research upgraded NiSource from a “sell” rating to a “hold” rating and set a $33.00 price objective for the company in a research report on Friday, April 1st. Finally, UBS Group cut NiSource from a “buy” rating to a “neutral” rating and increased their target price for the stock from $29.00 to $31.00 in a report on Tuesday, February 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $31.33.

NYSE NI opened at $31.74 on Tuesday. NiSource has a twelve month low of $23.65 and a twelve month high of $32.58. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 1.60. The stock has a market cap of $12.87 billion, a P/E ratio of 24.23, a PEG ratio of 3.06 and a beta of 0.32. The company’s 50-day simple moving average is $30.16 and its 200 day simple moving average is $27.64.

NiSource (NYSE:NIGet Rating) last issued its earnings results on Wednesday, February 23rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. NiSource had a return on equity of 11.61% and a net margin of 11.94%. During the same period in the prior year, the firm posted $0.34 EPS. Research analysts anticipate that NiSource will post 1.44 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Stonebridge Financial Planning Group LLC boosted its stake in NiSource by 400.0% during the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 1,000 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 800 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of NiSource during the third quarter worth $25,000. Amplius Wealth Advisors LLC acquired a new position in shares of NiSource in the 4th quarter valued at $28,000. Rise Advisors LLC bought a new stake in shares of NiSource in the 4th quarter valued at $32,000. Finally, US Asset Management LLC acquired a new stake in NiSource during the 1st quarter worth $44,000. 96.85% of the stock is owned by institutional investors and hedge funds.

NiSource Company Profile (Get Rating)

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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