Goldman Sachs Group upgraded shares of NiSource (NYSE:NI) from a neutral rating to a buy rating in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage currently has $23.00 price target on the utilities provider’s stock.
NI has been the subject of several other research reports. Zacks Investment Research cut NiSource from a buy rating to a hold rating in a research note on Wednesday, January 3rd. KeyCorp reissued a buy rating and issued a $29.50 price target on shares of NiSource in a research note on Friday, October 20th. Jefferies Group reissued a hold rating and issued a $26.00 price target on shares of NiSource in a research note on Wednesday, December 20th. Citigroup increased their price target on NiSource from $28.00 to $31.00 and gave the stock a buy rating in a research note on Monday, November 20th. Finally, Credit Suisse Group increased their price target on NiSource from $29.00 to $30.00 and gave the stock an outperform rating in a research note on Thursday, November 2nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $27.41.
NiSource (NYSE:NI) opened at $24.07 on Wednesday. NiSource has a 52 week low of $21.65 and a 52 week high of $27.76. The stock has a market capitalization of $8,110.00, a price-to-earnings ratio of 29.00, a PEG ratio of 3.18 and a beta of 0.43. 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 (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, hitting the Thomson Reuters’ consensus estimate of $0.07. NiSource had a return on equity of 8.97% and a net margin of 5.61%. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. research analysts expect that NiSource will post 1.2 EPS for the current year.
Several institutional investors have recently made changes to their positions in NI. Lord Abbett & CO. LLC acquired a new stake in shares of NiSource in the second quarter valued at $63,874,000. Ameriprise Financial Inc. lifted its holdings in shares of NiSource by 349.2% in the second quarter. Ameriprise Financial Inc. now owns 1,981,096 shares of the utilities provider’s stock valued at $50,247,000 after buying an additional 1,540,050 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of NiSource by 98.7% in the third quarter. Cohen & Steers Inc. now owns 2,256,420 shares of the utilities provider’s stock valued at $57,742,000 after buying an additional 1,120,910 shares during the period. Vanguard Group Inc. lifted its holdings in shares of NiSource by 2.4% in the second quarter. Vanguard Group Inc. now owns 33,914,394 shares of the utilities provider’s stock valued at $860,069,000 after buying an additional 802,824 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of NiSource in the second quarter valued at $11,199,000. Institutional investors and hedge funds own 82.19% of the company’s stock.
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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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