NiSource (NYSE:NI) PT Raised to $38.00 at Barclays

by · The Cerbat Gem

NiSource (NYSE:NI – Get Free Report) had its price target increased by equities research analysts at Barclays from $35.00 to $38.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective would indicate a potential upside of 7.80% from the company’s current price.

Several other research firms have also issued reports on NI. Mizuho assumed coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 target price for the company. Wells Fargo & Company boosted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. BMO Capital Markets lifted their target price on NiSource from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, Bank of America initiated coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NiSource currently has an average rating of “Moderate Buy” and an average target price of $36.00.

View Our Latest Research Report on NiSource

NiSource Price Performance

NI opened at $35.25 on Monday. NiSource has a 1 year low of $24.58 and a 1 year high of $35.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.84 and a beta of 0.51. The firm’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $30.52.

NiSource (NYSE:NI – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. NiSource had a net margin of 14.76% and a return on equity of 9.15%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.11 earnings per share. As a group, analysts anticipate that NiSource will post 1.72 earnings per share for the current fiscal year.

Institutional Trading of NiSource

Several hedge funds and other institutional investors have recently modified their holdings of NI. CANADA LIFE ASSURANCE Co raised its holdings in NiSource by 7.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 438,845 shares of the utilities provider’s stock valued at $12,144,000 after acquiring an additional 29,055 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in NiSource by 12.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 515,724 shares of the utilities provider’s stock worth $14,265,000 after purchasing an additional 57,658 shares in the last quarter. Sei Investments Co. lifted its holdings in NiSource by 26.0% during the 1st quarter. Sei Investments Co. now owns 796,693 shares of the utilities provider’s stock worth $22,036,000 after purchasing an additional 164,532 shares in the last quarter. Brookstone Capital Management bought a new position in NiSource in the 1st quarter worth about $9,686,000. Finally, California State Teachers Retirement System grew its holdings in NiSource by 3.5% during the 1st quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider’s stock valued at $16,551,000 after buying an additional 20,060 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

About NiSource

(Get Free Report)

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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