NiSource (NYSE:NI) Stock Rating Upgraded by Wall Street Zen

NiSource (NYSE:NI) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on the company. BMO Capital Markets upped their price objective on NiSource from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Weiss Ratings lowered NiSource from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd. Scotiabank started coverage on NiSource in a report on Tuesday, September 29th. They issued a “sector perform” rating and a $43.00 price target for the company. JPMorgan Chase & Co. dropped their price target on NiSource from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Finally, Citigroup reiterated a “buy” rating on shares of NiSource in a research report on Wednesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

NiSource Trading Down 0.0%

Shares of NYSE:NI opened at $44.56 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.37. The business’s fifty day simple moving average is $41.21 and its 200-day simple moving average is $44.83. NiSource has a 12-month low of $38.42 and a 12-month high of $49.21. The company has a market capitalization of $21.37 billion, a PE ratio of 22.85, a P/E/G ratio of 3.31 and a beta of 0.53.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. NiSource had a return on equity of 8.16% and a net margin of 13.56%. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities research analysts predict that NiSource will post 2.06 earnings per share for the current fiscal year.

Insider Transactions at NiSource

In related news, EVP Melody Birmingham sold 37,509 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the transaction, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. This represents a 32.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new stake in NiSource in the second quarter worth $26,000. Keating Financial Advisory Services Inc. bought a new stake in NiSource in the 2nd quarter worth $33,000. Western Wealth Management LLC bought a new stake in shares of NiSource during the 1st quarter valued at $34,000. Fiduciary Financial Advisors purchased a new stake in shares of NiSource during the 2nd quarter valued at about $35,000. Finally, Transamerica Financial Advisors LLC purchased a new position in NiSource during the second quarter valued at approximately $39,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

About NiSource

NiSource Inc is a regulated energy holding company based in Merrillville, Indiana. Through its operating companies, the company provides natural gas distribution and electric utility services to residential, commercial and industrial customers.

NiSource’s natural gas operations include Columbia Gas utilities serving customers in several states, including Kentucky, Maryland, Ohio, Pennsylvania and Virginia. Its electric utility, Northern Indiana Public Service Company (NIPSCO), serves customers in northern Indiana and provides both electric power and natural gas services.

The company’s operations include energy delivery infrastructure, utility system maintenance, customer services and investments intended to support reliability and the transition of its generation portfolio.