NiSource (NYSE:NI) Stock Rated Sector Perform in New Coverage at Scotiabank

Scotiabank initiated coverage on shares of NiSource (NYSE:NI) in a research report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $43.00 target price on the utilities provider’s stock.

Several other analysts also recently commented on the company. BMO Capital Markets lowered their price objective on NiSource from $49.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday. Royal Bank Of Canada began coverage on NiSource in a research report on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price on the stock. LADENBURG THALM/SH SH decreased their price target on NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a report on Monday, August 17th. Mizuho lowered their price target on NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, August 26th. Finally, KeyCorp lowered their price target on NiSource from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

NiSource Stock Up 1.2%

Shares of NYSE NI opened at $39.46 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41. The company has a 50-day moving average price of $41.72 and a 200-day moving average price of $45.16. The stock has a market capitalization of $18.92 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.91 and a beta of 0.55. NiSource has a 1 year low of $38.42 and a 1 year high of $49.21.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. NiSource had a net margin of 13.20% and a return on equity of 7.95%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities research analysts forecast that NiSource will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, October 30th. NiSource’s payout ratio is presently 63.83%.

Insider Buying and Selling at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the completion of the transaction, the executive vice president directly owned 78,527 shares of the company’s stock, valued at $3,329,544.80. This represents a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NiSource

Several institutional investors have recently bought and sold shares of NI. Compass Financial Management LLC purchased a new stake in NiSource in the second quarter worth $26,000. Keating Financial Advisory Services Inc. purchased a new position in shares of NiSource during the 2nd quarter valued at $33,000. Western Wealth Management LLC purchased a new position in shares of NiSource during the 1st quarter valued at $34,000. Fiduciary Financial Advisors bought a new position in shares of NiSource during the 2nd quarter worth $35,000. Finally, Transamerica Financial Advisors LLC bought a new position in shares of NiSource during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About NiSource

NiSource Inc (NYSE:NI) is a regulated utility company that delivers natural gas and electricity to residential, commercial and industrial customers. Its operations are primarily conducted through local utility subsidiaries, including Columbia Gas and Northern Indiana Public Service Company (NIPSCO).

NiSource’s natural gas businesses distribute gas through networks serving customers in Ohio, Pennsylvania, Virginia, Maryland and Kentucky. NIPSCO provides regulated natural gas and electric service in northern Indiana, where the company also operates electric generation and transmission and distribution infrastructure.