NiSource (NYSE:NI) Sets New 1-Year High – What’s Next?

NiSource Inc. (NYSE:NI)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $36.81 and last traded at $36.78, with a volume of 386387 shares changing hands. The stock had previously closed at $36.81.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NI shares. Wells Fargo & Company boosted their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Mizuho raised their price target on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI increased their target price on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lifted their price target on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, NiSource currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

NiSource Stock Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The company’s 50 day moving average is $34.74 and its 200 day moving average is $31.70. The firm has a market cap of $17.31 billion, a P/E ratio of 22.31, a P/E/G ratio of 3.04 and a beta of 0.51.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $986.00 million. NiSource had a net margin of 14.63% and a return on equity of 8.27%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, equities analysts predict that NiSource Inc. will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NiSource

Several large investors have recently modified their holdings of NI. CANADA LIFE ASSURANCE Co increased its holdings in shares of NiSource by 7.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 438,845 shares of the utilities provider’s stock worth $12,144,000 after purchasing an additional 29,055 shares during the period. California State Teachers Retirement System boosted its holdings in shares of NiSource by 3.5% during the first quarter. California State Teachers Retirement System now owns 598,359 shares of the utilities provider’s stock worth $16,551,000 after purchasing an additional 20,060 shares during the period. UniSuper Management Pty Ltd raised its holdings in shares of NiSource by 631.2% during the first quarter. UniSuper Management Pty Ltd now owns 38,946 shares of the utilities provider’s stock valued at $1,077,000 after acquiring an additional 33,620 shares in the last quarter. ING Groep NV purchased a new position in shares of NiSource during the third quarter valued at about $748,000. Finally, Bayesian Capital Management LP bought a new stake in shares of NiSource during the first quarter valued at approximately $487,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.