NiSource (NYSE:NI) Hits New 12-Month High at $31.59

NiSource Inc. (NYSE:NI)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.59 and last traded at $31.55, with a volume of 1050677 shares changing hands. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NI shares. Barclays raised their target price on NiSource from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Mizuho initiated coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective for the company. BMO Capital Markets upped their target price on NiSource from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Evercore ISI raised their price target on shares of NiSource from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

NiSource Trading Up 1.6 %

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.56. The firm’s fifty day moving average is $29.14 and its two-hundred day moving average is $27.72. The firm has a market capitalization of $14.24 billion, a PE ratio of 20.42, a PEG ratio of 3.04 and a beta of 0.50.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company posted $0.77 earnings per share. On average, equities analysts predict that NiSource Inc. will post 1.72 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, July 31st. NiSource’s dividend payout ratio (DPR) is 69.28%.

Insider Activity

In related news, SVP Melanie B. Berman sold 3,742 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total transaction of $104,626.32. Following the sale, the senior vice president now directly owns 19,978 shares in the company, valued at approximately $558,584.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On NiSource

A number of large investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in NiSource by 2.0% during the second quarter. CIBC Asset Management Inc now owns 60,205 shares of the utilities provider’s stock valued at $1,735,000 after acquiring an additional 1,159 shares during the last quarter. Elevated Capital Advisors LLC bought a new position in shares of NiSource during the 2nd quarter valued at $896,000. Natixis Advisors LLC grew its holdings in shares of NiSource by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 580,488 shares of the utilities provider’s stock valued at $16,724,000 after purchasing an additional 4,032 shares during the last quarter. International Private Wealth Advisors LLC raised its position in NiSource by 7.1% in the 2nd quarter. International Private Wealth Advisors LLC now owns 13,785 shares of the utilities provider’s stock worth $397,000 after purchasing an additional 915 shares during the period. Finally, Picton Mahoney Asset Management lifted its stake in NiSource by 30.2% in the second quarter. Picton Mahoney Asset Management now owns 206,177 shares of the utilities provider’s stock worth $5,942,000 after purchasing an additional 47,786 shares during the last quarter. 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.