NiSource (NYSE:NI) Price Target Raised to $38.00 at JPMorgan Chase & Co.

NiSource (NYSE:NI) had its price target lifted by JPMorgan Chase & Co. from $36.00 to $38.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other research analysts have also recently issued reports on NI. Mizuho initiated coverage on NiSource in a research report on Thursday, July 11th. They issued an “outperform” rating and a $33.00 price objective for the company. BMO Capital Markets increased their price target on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America began coverage on shares of NiSource in a report on Thursday, September 12th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Evercore ISI boosted their price target on NiSource from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.29.

NiSource Trading Up 1.6 %

Shares of NiSource stock opened at $35.31 on Wednesday. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51. NiSource has a 52-week low of $24.58 and a 52-week high of $35.32. The company’s 50-day simple moving average is $33.76 and its 200-day simple moving average is $30.68. The company has a quick ratio of 0.63, a current ratio of 0.78 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.16 billion. NiSource had a return on equity of 9.15% and a net margin of 14.76%. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, equities research analysts anticipate that NiSource will post 1.72 earnings per share for the current year.

NiSource Announces Dividend

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 annualized dividend and a dividend yield of 3.00%. NiSource’s dividend payout ratio is presently 69.28%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MCF Advisors LLC acquired a new position in NiSource in the 2nd quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of NiSource in the second quarter valued at approximately $25,000. First Financial Corp IN purchased a new position in shares of NiSource during the first quarter valued at approximately $31,000. Crewe Advisors LLC purchased a new position in shares of NiSource during the 1st quarter worth $31,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of NiSource during the first quarter worth $43,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.