JPMorgan Chase & Co. Raises NiSource (NYSE:NI) Price Target to $38.00

NiSource (NYSE:NI) had its target price hoisted by JPMorgan Chase & Co. from $36.00 to $38.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI boosted their price target on shares of NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Wells Fargo & Company boosted their target price on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their price target on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Barclays boosted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Mizuho began coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, NiSource presently has an average rating of “Moderate Buy” and an average price target of $36.29.

NiSource Trading Down 1.2 %

NYSE:NI opened at $34.82 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. NiSource has a one year low of $24.58 and a one year high of $35.48. The company has a market cap of $15.62 billion, a PE ratio of 21.36, a PEG ratio of 2.90 and a beta of 0.51. The firm has a 50-day moving average of $33.89 and a 200-day moving average of $30.77.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. NiSource had a return on equity of 9.15% and a net margin of 14.76%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. As a group, equities research analysts expect that NiSource will post 1.72 EPS for the current fiscal year.

NiSource Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.04%. NiSource’s dividend payout ratio is presently 65.03%.

Institutional Investors Weigh In On NiSource

Several large investors have recently added to or reduced their stakes in NI. MCF Advisors LLC bought a new position in NiSource in the 2nd quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of NiSource during the 2nd quarter valued at $25,000. First Financial Corp IN purchased a new stake in NiSource during the 1st quarter worth about $31,000. Crewe Advisors LLC bought a new position in NiSource in the 1st quarter worth about $31,000. Finally, Fidelis Capital Partners LLC purchased a new position in NiSource during the 1st quarter valued at about $43,000. Hedge funds and other 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.