NiSource (NYSE:NI) Given New $43.00 Price Target at Wells Fargo & Company

NiSource (NYSE:NI) had its price target boosted by investment analysts at Wells Fargo & Company from $39.00 to $43.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.10% from the company’s previous close.

Several other brokerages also recently weighed in on NI. Jefferies Financial Group initiated coverage on shares of NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price target for the company. Barclays boosted their price target on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Mizuho upped their target price on shares of NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.13.

NiSource Stock Up 0.7 %

NI traded up $0.26 during trading on Thursday, reaching $39.06. The stock had a trading volume of 299,874 shares, compared to its average volume of 3,623,414. NiSource has a one year low of $25.13 and a one year high of $39.18. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.50 and a beta of 0.54. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $36.99 and its two-hundred day moving average is $35.21.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a net margin of 14.63% and a return on equity of 8.27%. During the same period in the previous year, the firm posted $0.53 EPS. As a group, analysts expect that NiSource will post 1.73 earnings per share for the current year.

Institutional Trading of NiSource

Hedge funds and other institutional investors have recently modified their holdings of the company. Brooklyn Investment Group lifted its position in shares of NiSource by 153.2% in the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after buying an additional 527 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in NiSource in the 3rd quarter worth approximately $33,000. Spire Wealth Management purchased a new stake in shares of NiSource during the 4th quarter worth approximately $39,000. Catalyst Capital Advisors LLC purchased a new stake in NiSource during the fourth quarter valued at $40,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of NiSource in the 3rd quarter valued at about $47,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.