NiSource (NYSE:NI) Price Target Raised to $31.00 at Barclays

NiSource (NYSE:NIFree Report) had its target price hoisted by Barclays from $30.00 to $31.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

NI has been the subject of a number of other research reports. Evercore ISI increased their price target on NiSource from $30.00 to $32.00 and gave the company an outperform rating in a report on Thursday, May 9th. upgraded shares of NiSource from a sell rating to a hold rating in a research note on Saturday, February 24th. Finally, BMO Capital Markets reiterated an outperform rating and set a $31.00 price objective (up from $30.00) on shares of NiSource in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NiSource currently has a consensus rating of Moderate Buy and a consensus target price of $29.71.

Check Out Our Latest Stock Analysis on NiSource

NiSource Trading Up 0.2 %

NYSE NI opened at $28.87 on Tuesday. The stock has a market cap of $12.94 billion, a P/E ratio of 18.87, a PEG ratio of 2.81 and a beta of 0.49. The company’s fifty day simple moving average is $27.55 and its 200-day simple moving average is $26.56. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20. NiSource has a 52 week low of $22.86 and a 52 week high of $29.17.

NiSource (NYSE:NIGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same quarter in the previous year, the business posted $0.77 EPS. Equities research analysts predict that NiSource will post 1.71 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.265 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.67%. NiSource’s dividend payout ratio (DPR) is 69.28%.

Insider Activity

In other news, SVP Melanie B. Berman sold 11,141 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total transaction of $297,019.06. Following the completion of the transaction, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at $632,375.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On NiSource

Institutional investors have recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in NiSource in the 1st quarter valued at approximately $31,000. First Financial Corp IN acquired a new position in shares of NiSource during the first quarter valued at $31,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of NiSource during the fourth quarter valued at $36,000. Fidelis Capital Partners LLC acquired a new stake in NiSource in the first quarter worth about $43,000. Finally, Lindbrook Capital LLC grew its position in NiSource by 46.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock valued at $41,000 after buying an additional 491 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

About NiSource

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NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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