NiSource, Inc (NYSE:NI) Receives $47.11 Average PT from Brokerages

NiSource, Inc (NYSE:NI) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $47.1111.

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a research note on Monday, December 29th. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Barclays set a $45.00 price objective on shares of NiSource in a research report on Monday, December 8th. Wells Fargo & Company increased their target price on shares of NiSource from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, UBS Group raised their target price on shares of NiSource from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th.

Insiders Place Their Bets

In other news, EVP Kimberly S. Cuccia sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $43.13, for a total transaction of $345,040.00. Following the transaction, the executive vice president owned 41,247 shares in the company, valued at $1,778,983.11. This represents a 16.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of NiSource

Several large investors have recently bought and sold shares of NI. Tower Bridge Advisors lifted its stake in shares of NiSource by 1.1% during the third quarter. Tower Bridge Advisors now owns 21,132 shares of the utilities provider’s stock worth $915,000 after buying an additional 232 shares during the period. Choreo LLC lifted its position in NiSource by 2.7% during the 4th quarter. Choreo LLC now owns 8,769 shares of the utilities provider’s stock worth $369,000 after acquiring an additional 234 shares during the period. Advisory Services Network LLC grew its stake in NiSource by 1.6% during the 3rd quarter. Advisory Services Network LLC now owns 14,951 shares of the utilities provider’s stock valued at $647,000 after purchasing an additional 234 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in NiSource by 1.6% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 15,247 shares of the utilities provider’s stock valued at $637,000 after purchasing an additional 240 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in shares of NiSource by 1.7% in the third quarter. Verdence Capital Advisors LLC now owns 14,319 shares of the utilities provider’s stock valued at $626,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Trading Up 0.7%

NYSE:NI opened at $44.76 on Friday. The firm has a 50-day simple moving average of $42.63 and a 200-day simple moving average of $42.55. NiSource has a one year low of $35.64 and a one year high of $45.00. The firm has a market cap of $21.36 billion, a P/E ratio of 23.68, a P/E/G ratio of 3.65 and a beta of 0.65. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.39 and a current ratio of 0.52.

NiSource Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 3rd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $1.20 annualized dividend and a yield of 2.7%. This is an increase from NiSource’s previous quarterly dividend of $0.28. NiSource’s dividend payout ratio is currently 63.49%.

About NiSource

NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.

The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.