Posted by ABMN Staff on Jul 18th, 2024
NiSource Inc. (NYSE:NI – Get Free Report)’s stock price reached a new 52-week high on Wednesday after BMO Capital Markets raised their price target on the stock from $31.00 to $32.00. BMO Capital Markets currently has an outperform rating on the stock. NiSource traded as high as $30.49 and last traded at $30.43, with a volume of 60715 shares changing hands. The stock had previously closed at $30.03.
A number of other equities analysts have also recently weighed in on the stock. Evercore ISI upped their price objective on shares of NiSource from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Mizuho began coverage on shares of NiSource in a research report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective for the company. Finally, Barclays upped their price objective on shares of NiSource from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average price target of $30.50.
Check Out Our Latest Analysis on NI
Insider Transactions at NiSource
In other news, SVP Melanie B. Berman sold 3,742 shares of the stock in a transaction dated 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 of the company’s stock, valued at $558,584.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Hedge Funds Weigh In On NiSource
Several large investors have recently modified their holdings of NI. Crewe Advisors LLC bought a new position in NiSource in the first quarter worth about $31,000. First Financial Corp IN bought a new position in NiSource in the first quarter worth about $31,000. McGlone Suttner Wealth Management Inc. bought a new position in NiSource in the fourth quarter worth about $36,000. Fidelis Capital Partners LLC bought a new position in NiSource in the first quarter worth about $43,000. Finally, Lindbrook Capital LLC lifted its holdings in NiSource by 46.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,553 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 491 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.
NiSource Stock Up 2.2 %
The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56. The stock’s fifty day simple moving average is $28.74 and its 200-day simple moving average is $27.44. The stock has a market cap of $13.76 billion, a P/E ratio of 20.06, a PEG ratio of 2.88 and a beta of 0.50.
NiSource (NYSE:NI – Get Free Report) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company posted $0.77 earnings per share. On average, research analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current year.
NiSource Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be paid a $0.265 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $1.06 annualized dividend and a dividend yield of 3.45%. NiSource’s payout ratio is currently 69.28%.
About NiSource
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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