NiSource (NYSE:NI) Upgraded to Buy at Edward Jones

NiSource (NYSE:NI) was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating in a research report issued on Tuesday, January 9th, The Fly reports.

Several other equities research analysts have also recently weighed in on NI. Zacks Investment Research upgraded shares of NiSource from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Monday, October 2nd. Jefferies Group reissued a “hold” rating and issued a $26.00 price target on shares of NiSource in a research report on Wednesday, December 20th. Citigroup increased their price target on shares of NiSource from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Credit Suisse Group increased their price target on shares of NiSource from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of NiSource from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $27.14.

Shares of NiSource (NYSE:NI) opened at $23.97 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.52 and a debt-to-equity ratio of 1.72. NiSource has a fifty-two week low of $21.92 and a fifty-two week high of $27.76. The stock has a market cap of $8,163.88, a price-to-earnings ratio of 29.23, a P/E/G ratio of 2.87 and a beta of 0.24.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NI. Vanguard Group Inc. lifted its position in NiSource by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 33,914,394 shares of the utilities provider’s stock valued at $860,069,000 after acquiring an additional 802,824 shares in the last quarter. Maple Brown Abbott Ltd lifted its position in NiSource by 36.9% in the 4th quarter. Maple Brown Abbott Ltd now owns 3,451,218 shares of the utilities provider’s stock valued at $88,593,000 after acquiring an additional 930,314 shares in the last quarter. Commonwealth Bank of Australia lifted its position in NiSource by 3.1% in the 3rd quarter. Commonwealth Bank of Australia now owns 3,350,014 shares of the utilities provider’s stock valued at $85,422,000 after acquiring an additional 102,242 shares in the last quarter. Legal & General Group Plc lifted its position in NiSource by 6.2% in the 3rd quarter. Legal & General Group Plc now owns 2,615,015 shares of the utilities provider’s stock valued at $66,917,000 after acquiring an additional 152,500 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in NiSource in the 2nd quarter valued at $63,874,000. 82.56% of the stock is currently owned by institutional investors.

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NiSource Company Profile

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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