NiSource (NI) PT Raised to $28.00 at KeyCorp

NiSource (NYSE:NI) had its price target hoisted by KeyCorp from $27.00 to $28.00 in a research note issued to investors on Friday. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price points to a potential upside of 10.80% from the stock’s current price.

A number of other brokerages have also issued reports on NI. Guggenheim lowered NiSource from a “buy” rating to a “neutral” rating in a research note on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research lowered NiSource from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Barclays assumed coverage on NiSource in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $27.00 price target on the stock. Bank of America reaffirmed a “buy” rating and issued a $28.00 price target on shares of NiSource in a research note on Monday, September 17th. Finally, Evercore ISI lowered NiSource from an “in-line” rating to an “underperform” rating in a research note on Friday, September 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.09.

Shares of NYSE:NI traded down $0.10 during trading on Friday, reaching $25.27. The stock had a trading volume of 86,263 shares, compared to its average volume of 3,292,014. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.51 and a quick ratio of 0.38. The firm has a market capitalization of $9.40 billion, a PE ratio of 20.89, a P/E/G ratio of 3.70 and a beta of 0.17. NiSource has a 1-year low of $22.44 and a 1-year high of $28.11.

NiSource (NYSE:NI) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. The firm had revenue of $895.00 million for the quarter, compared to analyst estimates of $946.10 million. NiSource had a return on equity of 9.19% and a net margin of 5.20%. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, analysts expect that NiSource will post 1.27 earnings per share for the current year.

In related news, CFO Donald Eugene Brown sold 2,400 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total value of $63,600.00. Following the sale, the chief financial officer now owns 49,167 shares in the company, valued at approximately $1,302,925.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carrie J. Hightman sold 27,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $26.75, for a total value of $722,250.00. Following the completion of the sale, the executive vice president now owns 325,066 shares in the company, valued at approximately $8,695,515.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its stake in NiSource by 5.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 36,838 shares of the utilities provider’s stock worth $968,000 after purchasing an additional 1,878 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of NiSource by 5.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,926 shares of the utilities provider’s stock worth $1,045,000 after acquiring an additional 2,149 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of NiSource by 18.0% during the 2nd quarter. First Republic Investment Management Inc. now owns 14,263 shares of the utilities provider’s stock worth $374,000 after acquiring an additional 2,174 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of NiSource by 8.7% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 27,860 shares of the utilities provider’s stock worth $732,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of NiSource by 27.9% during the 3rd quarter. Private Advisor Group LLC now owns 11,218 shares of the utilities provider’s stock worth $280,000 after acquiring an additional 2,449 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

About NiSource

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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