NiSource (NI) Downgraded by Zacks Investment Research to “Hold”

NiSource (NYSE:NI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 9th.

According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy.  NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”

NI has been the topic of a number of other research reports. KeyCorp restated a “buy” rating and set a $29.50 price objective on shares of NiSource in a research note on Friday, October 20th. Edward Jones upgraded NiSource from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Jefferies Group reiterated a “hold” rating and issued a $26.00 price target on shares of NiSource in a research note on Wednesday, December 20th. Citigroup boosted their price objective on NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, November 20th. Finally, Credit Suisse Group boosted their price objective on NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $27.14.

Shares of NiSource (NI) traded down $0.27 during trading hours on Tuesday, hitting $23.97. The stock had a trading volume of 2,913,450 shares, compared to its average volume of 3,010,759. NiSource has a twelve month low of $21.92 and a twelve month high of $27.76. The stock has a market capitalization of $8,072.95, a P/E ratio of 29.23, a P/E/G ratio of 2.84 and a beta of 0.24. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.32 and a current ratio of 0.52.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The firm had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $901.00 million. NiSource had a return on equity of 8.97% and a net margin of 5.61%. During the same quarter last year, the firm earned $0.06 earnings per share. research analysts forecast that NiSource will post 1.19 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. TCI Wealth Advisors Inc. increased its stake in shares of NiSource by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 24 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of NiSource by 0.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 68 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of NiSource by 1.2% in the second quarter. D.A. Davidson & CO. now owns 11,644 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 134 shares during the last quarter. Advisor Group Inc. increased its position in NiSource by 1.1% during the second quarter. Advisor Group Inc. now owns 15,317 shares of the utilities provider’s stock worth $387,000 after buying an additional 174 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in NiSource by 4.4% during the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after buying an additional 200 shares during the last quarter. Institutional investors own 82.56% of the company’s stock.

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About NiSource

NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.

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