NiSource (NYSE:NI) Stock Price Expected to Rise, Mizuho Analyst Says

NiSource (NYSE:NI) had its target price lifted by analysts at Mizuho from $42.00 to $44.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target points to a potential upside of 11.03% from the company’s current price.

A number of other equities research analysts have also issued reports on NI. Wells Fargo & Company raised their price target on shares of NiSource from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group raised their target price on NiSource from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $39.33.

NiSource Price Performance

Shares of NYSE:NI opened at $39.63 on Wednesday. The company’s fifty day moving average is $38.80 and its 200 day moving average is $36.76. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. NiSource has a 52 week low of $26.26 and a 52 week high of $41.45. The stock has a market cap of $18.62 billion, a PE ratio of 24.46, a PEG ratio of 2.56 and a beta of 0.50.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same period in the previous year, the firm earned $0.53 EPS. Research analysts anticipate that NiSource will post 1.91 earnings per share for the current year.

Insider Buying and Selling at NiSource

In other news, CAO Gunnar Gode sold 5,500 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,758 shares in the company, valued at $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of NiSource

Several large investors have recently modified their holdings of the company. Canada Post Corp Registered Pension Plan bought a new position in shares of NiSource in the fourth quarter worth approximately $27,000. Brooklyn Investment Group grew its position in shares of NiSource by 153.2% during the fourth quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 527 shares in the last quarter. Spire Wealth Management purchased a new position in NiSource in the 4th quarter worth approximately $39,000. Catalyst Capital Advisors LLC bought a new position in NiSource in the 4th quarter worth approximately $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of NiSource during the third quarter valued at approximately $47,000. Institutional investors own 91.64% 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 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.