NiSource (NYSE:NI) Reaches New 52-Week High at $32.39

NiSource Inc. (NYSE:NI) hit a new 52-week high on Wednesday . The stock traded as high as $32.39 and last traded at $32.35, with a volume of 1817889 shares changing hands. The stock had previously closed at $32.15.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Mizuho started coverage on NiSource in a report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective for the company. Barclays upped their price target on shares of NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Evercore ISI lifted their price objective on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets upped their target price on shares of NiSource from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, NiSource presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

NiSource Stock Performance

The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $30.20 and its 200 day moving average is $28.35.

NiSource (NYSE:NI) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. NiSource had a return on equity of 9.56% and a net margin of 14.23%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm posted $0.11 EPS. Analysts anticipate that NiSource Inc. will post 1.72 earnings per share for the current year.

NiSource Dividend Announcement

The firm 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 $0.265 dividend. 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 3.25%. NiSource’s payout ratio is 69.28%.

Insiders Place Their Bets

In related news, SVP Melanie B. Berman sold 3,742 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $27.96, for a total value of $104,626.32. Following the transaction, the senior vice president now owns 19,978 shares in the company, valued at $558,584.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On NiSource

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of NiSource by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 54,946,594 shares of the utilities provider’s stock valued at $1,519,823,000 after purchasing an additional 991,336 shares during the last quarter. Zimmer Partners LP grew its stake in shares of NiSource by 146.2% during the first quarter. Zimmer Partners LP now owns 8,907,743 shares of the utilities provider’s stock worth $246,388,000 after buying an additional 5,290,322 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of NiSource by 27.3% during the fourth quarter. Franklin Resources Inc. now owns 8,525,528 shares of the utilities provider’s stock worth $226,353,000 after buying an additional 1,826,202 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of NiSource by 6.6% in the 4th quarter. Cohen & Steers Inc. now owns 7,272,420 shares of the utilities provider’s stock valued at $193,083,000 after acquiring an additional 450,818 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of NiSource by 0.7% during the 2nd quarter. Millennium Management LLC now owns 6,374,053 shares of the utilities provider’s stock valued at $183,636,000 after acquiring an additional 44,598 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

About NiSource

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.