UBS Group Issues Positive Forecast for NiSource (NYSE:NI) Stock Price

NiSource (NYSE:NI) had its target price increased by UBS Group from $40.00 to $45.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Separately, Wells Fargo & Company increased their price target on NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $38.89.

NiSource Stock Performance

Shares of NI stock opened at $39.18 on Friday. The company has a market capitalization of $18.41 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.56 and a beta of 0.50. The business’s 50 day moving average is $38.67 and its two-hundred day moving average is $36.62. The company has a current ratio of 0.51, a quick ratio of 0.41 and a debt-to-equity ratio of 1.13. NiSource has a 12-month low of $26.26 and a 12-month high of $41.45.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same period in the previous year, the company posted $0.53 EPS. Analysts expect that NiSource will post 1.91 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.86%. NiSource’s payout ratio is currently 69.14%.

Insider Buying and Selling at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the sale, the chief accounting officer now owns 24,758 shares of the company’s stock, valued at approximately $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On NiSource

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of NiSource by 110.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,273 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 1,195 shares during the last quarter. Thomasville National Bank increased its holdings in shares of NiSource by 3.0% in the fourth quarter. Thomasville National Bank now owns 567,196 shares of the utilities provider’s stock valued at $20,850,000 after purchasing an additional 16,364 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of NiSource by 21.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,712,724 shares of the utilities provider’s stock valued at $99,720,000 after purchasing an additional 483,491 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NiSource by 88.4% in the third quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after purchasing an additional 6,991,608 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in NiSource during the third quarter worth $3,068,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Company Profile

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.