NiSource (NI) Downgraded by Zacks Investment Research

NiSource (NYSE:NI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, January 9th.

According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy.  NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”

Other equities analysts have also issued research reports about the company. Citigroup increased their price target on NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, November 20th. KeyCorp reiterated a “buy” rating and issued a $29.50 price target on shares of NiSource in a research report on Friday, October 20th. Edward Jones upgraded NiSource from a “hold” rating to a “buy” rating in a research report on Tuesday, January 9th. Jefferies Group reiterated a “hold” rating and issued a $26.00 price target on shares of NiSource in a research report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. increased their price target on NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. NiSource presently has an average rating of “Buy” and a consensus price target of $27.32.

NiSource (NI) traded down $0.04 during trading hours on Tuesday, reaching $23.94. The company had a trading volume of 2,586,188 shares, compared to its average volume of 3,040,000. The firm has a market capitalization of $8,060.00, a price-to-earnings ratio of 28.84, a P/E/G ratio of 3.16 and a beta of 0.43. NiSource has a 1 year low of $21.65 and a 1 year high of $27.76. The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 1.72.

NiSource (NYSE:NI) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. NiSource had a return on equity of 8.97% and a net margin of 5.61%. The firm had revenue of $917.00 million for the quarter, compared to analyst estimates of $901.00 million. During the same period in the previous year, the company earned $0.06 earnings per share. equities analysts anticipate that NiSource will post 1.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TCI Wealth Advisors Inc. boosted its position in NiSource by 0.4% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 24 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in NiSource by 0.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 68 shares during the period. D.A. Davidson & CO. boosted its position in NiSource by 1.2% during the 2nd quarter. D.A. Davidson & CO. now owns 11,644 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 134 shares during the period. Advisor Group Inc. boosted its position in NiSource by 1.1% during the 2nd quarter. Advisor Group Inc. now owns 15,317 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 174 shares during the period. Finally, Advisory Services Network LLC boosted its position in NiSource by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 82.20% of the company’s stock.

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About NiSource

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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