Analysts Set NiSource Inc. (NYSE:NI) PT at $37.50

NiSource Inc. (NYSE:NI) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $37.50.

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays boosted their target price on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America assumed coverage on shares of NiSource in a research note on Thursday, September 12th. They set a “buy” rating and a $37.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Mizuho boosted 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.

NiSource Price Performance

Shares of NYSE:NI opened at $37.11 on Wednesday. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 3.04 and a beta of 0.51. NiSource has a 12 month low of $24.80 and a 12 month high of $37.17. The stock’s 50 day moving average price is $34.81 and its 200 day moving average price is $31.76. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.46 and a quick ratio of 0.35.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $986.00 million. NiSource had a return on equity of 8.27% and a net margin of 14.63%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities research analysts anticipate that NiSource will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NiSource

Several institutional investors have recently bought and sold shares of NI. MCF Advisors LLC acquired a new position in shares of NiSource during the 2nd quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in NiSource during the second quarter valued at approximately $25,000. Crewe Advisors LLC bought a new position in shares of NiSource in the first quarter valued at approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of NiSource during the 3rd quarter worth $33,000. Finally, Family Firm Inc. acquired a new position in NiSource in the 2nd quarter valued at $43,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Company Profile

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.