NiSource (NYSE:NI – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
A number of other brokerages have also commented on NI. Guggenheim cut their price target on shares of NiSource from $30.00 to $27.00 in a report on Monday, October 9th. Barclays initiated coverage on NiSource in a research report on Monday. They set an “overweight” rating and a $28.00 price objective for the company. Finally, LADENBURG THALM/SH SH began coverage on shares of NiSource in a research report on Friday, October 6th. They set a “buy” rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.86.
NiSource Price Performance
Shares of NI stock traded down $0.01 on Monday, hitting $25.59. 5,056,981 shares of the company’s stock were exchanged, compared to its average volume of 3,653,045. NiSource has a 12 month low of $22.86 and a 12 month high of $28.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.41 and a quick ratio of 0.29. The company has a 50 day moving average of $26.34 and a 200 day moving average of $26.36. The stock has a market cap of $10.58 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.10 and a beta of 0.51.
NiSource (NYSE:NI – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.06 billion. NiSource had a net margin of 12.46% and a return on equity of 11.14%. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities research analysts predict that NiSource will post 1.59 EPS for the current year.
Insider Transactions at NiSource
In other news, Director Michael E. Jesanis sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $26.24, for a total transaction of $131,200.00. Following the sale, the director now owns 48,070 shares in the company, valued at approximately $1,261,356.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.
Institutional Trading of NiSource
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Achmea Investment Management B.V. purchased a new stake in shares of NiSource in the first quarter worth about $33,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of NiSource during the 4th quarter valued at approximately $36,000. Ancora Advisors LLC purchased a new position in shares of NiSource in the fourth quarter valued at $40,000. ST Germain D J Co. Inc. bought a new stake in NiSource in the second quarter worth $42,000. Finally, Money Concepts Capital Corp purchased a new stake in NiSource during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.
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 through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 859,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.