NiSource (NYSE:NI) Reaches New 1-Year High – Should You Buy?

NiSource Inc. (NYSE:NI) reached a new 52-week high during trading on Wednesday . The stock traded as high as $36.40 and last traded at $36.29, with a volume of 802110 shares. The stock had previously closed at $35.95.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NI shares. Bank of America initiated coverage on shares of NiSource in a research report on Thursday, September 12th. They set a “buy” rating and a $37.00 price target on 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 raised their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Mizuho raised their price target on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets increased their price objective on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Price Performance

The company’s 50 day moving average is $34.49 and its 200 day moving average is $31.47. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 2.99 and a beta of 0.51.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The company 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%. NiSource’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. Research analysts anticipate that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Institutional Trading of NiSource

Hedge funds and other institutional investors have recently made changes to their positions in the company. MCF Advisors LLC purchased a new stake in NiSource during the second quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of NiSource in the second quarter valued at about $25,000. Crewe Advisors LLC acquired a new position in shares of NiSource in the first quarter valued at approximately $31,000. Capital Performance Advisors LLP acquired a new position in shares of NiSource in the third quarter valued at approximately $33,000. Finally, Family Firm Inc. acquired a new position in shares of NiSource in the second quarter valued at approximately $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.