NiSource (NI) Upgraded by ValuEngine to “Hold”

Share on StockTwits

NiSource (NYSE:NI) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.

NI has been the topic of several other reports. Guggenheim downgraded NiSource from a “buy” rating to a “neutral” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Wolfe Research set a $27.00 target price on NiSource and gave the company a “buy” rating in a research report on Monday, September 17th. Goldman Sachs Group downgraded NiSource from a “buy” rating to a “neutral” rating in a research report on Thursday. Zacks Investment Research upgraded NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, October 3rd. Finally, Barclays lowered their target price on NiSource from $27.00 to $26.00 and set a “hold” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.

NYSE NI traded up $0.21 on Thursday, hitting $25.24. 2,707,800 shares of the company traded hands, compared to its average volume of 3,427,662. The company has a market capitalization of $9.05 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 3.51 and a beta of 0.17. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.38 and a current ratio of 0.51. NiSource has a 52-week low of $22.44 and a 52-week high of $28.11.

NiSource (NYSE:NI) last released its earnings results on Wednesday, August 1st. The utilities provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $999.39 million. NiSource had a net margin of 5.20% and a return on equity of 9.19%. During the same quarter last year, the firm posted $0.10 earnings per share. On average, sell-side analysts forecast that NiSource will post 1.29 EPS for the current year.

In other news, EVP Carrie J. Hightman sold 27,000 shares of NiSource stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $26.75, for a total value of $722,250.00. Following the sale, the executive vice president now directly owns 325,066 shares of the company’s stock, valued at $8,695,515.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donald Eugene Brown sold 2,400 shares of NiSource stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $26.50, for a total value of $63,600.00. Following the completion of the sale, the chief financial officer now directly owns 49,167 shares in the company, valued at $1,302,925.50. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of NiSource by 5.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 36,838 shares of the utilities provider’s stock worth $968,000 after purchasing an additional 1,878 shares during the last quarter. First Republic Investment Management Inc. grew its position in NiSource by 18.0% in the second quarter. First Republic Investment Management Inc. now owns 14,263 shares of the utilities provider’s stock worth $374,000 after acquiring an additional 2,174 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in NiSource by 8.7% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 27,860 shares of the utilities provider’s stock worth $732,000 after acquiring an additional 2,231 shares in the last quarter. Daiwa Securities Group Inc. grew its position in NiSource by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 12,733 shares of the utilities provider’s stock worth $335,000 after acquiring an additional 2,626 shares in the last quarter. Finally, FDx Advisors Inc. grew its position in NiSource by 28.0% in the second quarter. FDx Advisors Inc. now owns 12,466 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 2,725 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other 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. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

See Also: How Do Tariffs Affect Trade Balances?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NiSource (NYSE:NI)

Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply