NiSource (NYSE:NI) Price Target Raised to $34.00 at Barclays

NiSource (NYSE:NI) had its price objective hoisted by research analysts at Barclays from $31.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target would suggest a potential upside of 13.22% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and set a $31.00 target price on shares of NiSource in a research report on Tuesday, June 18th. Mizuho started coverage on shares of NiSource in a research report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on shares of NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

NiSource Price Performance

NiSource stock opened at $30.03 on Monday. The firm has a market capitalization of $13.46 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.92 and a beta of 0.51. NiSource has a 12-month low of $22.86 and a 12-month high of $30.24. The firm has a 50-day moving average price of $28.70 and a 200-day moving average price of $27.42. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.07 billion. NiSource had a net margin of 14.23% and a return on equity of 9.56%. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that NiSource will post 1.72 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Melanie B. Berman sold 3,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $27.96, for a total value of $104,626.32. Following the sale, the senior vice president now owns 19,978 shares of the company’s stock, valued at $558,584.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NiSource

Several institutional investors have recently made changes to their positions in NI. Lindbrook Capital LLC increased its stake in shares of NiSource by 23.8% during the 1st quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 369 shares during the last quarter. Thomasville National Bank boosted its holdings in NiSource by 0.7% in the 2nd quarter. Thomasville National Bank now owns 53,719 shares of the utilities provider’s stock worth $1,548,000 after acquiring an additional 372 shares during the period. Beacon Pointe Advisors LLC boosted its stake in shares of NiSource by 3.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider’s stock valued at $350,000 after buying an additional 405 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of NiSource by 4.9% during the 4th quarter. Raymond James Trust N.A. now owns 8,930 shares of the utilities provider’s stock valued at $237,000 after buying an additional 414 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of NiSource by 11.1% during the 1st quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock valued at $124,000 after buying an additional 449 shares during the last quarter. 91.64% 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. 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.