NiSource (NYSE:NI) Receives New Coverage from Analysts at Mizuho

Investment analysts at Mizuho assumed coverage on shares of NiSource (NYSE:NIGet Free Report) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $33.00 price target on the utilities provider’s stock. Mizuho’s price objective would suggest a potential upside of 12.98% from the company’s current price.

NI has been the topic of a number of other research reports. Evercore ISI raised their price objective on shares of NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Barclays raised their target price on shares of NiSource from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of NiSource in a research note on Tuesday, June 18th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.83.

View Our Latest Stock Report on NI

NiSource Price Performance

Shares of NYSE:NI opened at $29.21 on Thursday. NiSource has a 52 week low of $22.86 and a 52 week high of $29.44. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $13.09 billion, a P/E ratio of 19.09, a PEG ratio of 2.78 and a beta of 0.50. The firm’s 50 day moving average is $28.60 and its two-hundred day moving average is $27.31.

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

Insider Activity

In other news, SVP Melanie B. Berman sold 3,742 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total transaction of $104,626.32. Following the transaction, the senior vice president now owns 19,978 shares in the company, valued at approximately $558,584.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Zimmer Partners LP grew its position in NiSource by 146.2% in the 1st quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock worth $246,388,000 after purchasing an additional 5,290,322 shares during the last quarter. Balyasny Asset Management L.P. grew its position in NiSource by 123.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 5,593,854 shares of the utilities provider’s stock worth $148,517,000 after purchasing an additional 3,092,138 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of NiSource by 330.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,463,203 shares of the utilities provider’s stock valued at $95,792,000 after acquiring an additional 2,659,551 shares in the last quarter. Norges Bank bought a new stake in NiSource in the fourth quarter valued at about $70,090,000. Finally, HITE Hedge Asset Management LLC increased its stake in NiSource by 110.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 3,915,163 shares of the utilities provider’s stock valued at $103,948,000 after acquiring an additional 2,058,646 shares during the period. Institutional investors own 91.64% of the company’s stock.

NiSource Company Profile

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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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