NiSource (NI) Price Target Raised to $26.00

NiSource (NYSE:NI) had its price objective boosted by investment analysts at KeyCorp from $25.00 to $26.00 in a research note issued on Wednesday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price suggests a potential upside of 8.33% from the stock’s previous close.

Several other equities analysts have also recently commented on NI. 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. Zacks Investment Research cut shares of NiSource from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Edward Jones raised shares of NiSource from a “hold” rating to a “buy” rating in a research report on Tuesday, January 9th. Goldman Sachs raised shares of NiSource from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Wednesday, January 10th. Finally, JPMorgan Chase decreased their price target on shares of NiSource from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.55.

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NYSE:NI opened at $24.00 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.55 and a quick ratio of 0.41. NiSource has a fifty-two week low of $22.44 and a fifty-two week high of $27.76. The company has a market cap of $8,080.99, a P/E ratio of 20.83, a P/E/G ratio of 3.44 and a beta of 0.26.

NiSource (NYSE:NI) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. NiSource had a net margin of 2.64% and a return on equity of 8.90%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company posted $0.33 EPS. equities analysts forecast that NiSource will post 1.29 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of NiSource by 4.6% in the 4th quarter. BlackRock Inc. now owns 24,779,376 shares of the utilities provider’s stock valued at $636,086,000 after purchasing an additional 1,093,752 shares in the last quarter. Millennium Management LLC raised its holdings in shares of NiSource by 38.6% in the 4th quarter. Millennium Management LLC now owns 3,591,733 shares of the utilities provider’s stock valued at $92,200,000 after purchasing an additional 999,678 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NiSource by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 3,561,143 shares of the utilities provider’s stock valued at $91,226,000 after purchasing an additional 234,175 shares in the last quarter. Maple Brown Abbott Ltd raised its holdings in shares of 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 purchasing an additional 930,314 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of NiSource by 31.4% in the 4th quarter. Franklin Resources Inc. now owns 2,654,095 shares of the utilities provider’s stock valued at $68,131,000 after purchasing an additional 634,000 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

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NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

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