NiSource (NYSE:NI) Reaches New 1-Year High – Here’s What Happened

NiSource Inc. (NYSE:NI) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.99 and last traded at $39.94, with a volume of 565617 shares trading hands. The stock had previously closed at $39.86.

Analysts Set New Price Targets

A number of research analysts have commented on NI shares. Mizuho boosted their target price on NiSource from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group began coverage on NiSource in a report on Monday, October 28th. They issued a “buy” rating and a $39.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.13.

NiSource Stock Performance

The stock has a market cap of $18.84 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The stock’s 50-day simple moving average is $37.35 and its two-hundred day simple moving average is $35.54. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same period in the prior year, the company posted $0.53 EPS. Analysts forecast that NiSource Inc. will post 1.91 earnings per share for the current year.

NiSource Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 3rd were paid a $0.28 dividend. This is an increase from NiSource’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 3rd. This represents a $1.12 annualized dividend and a dividend yield of 2.79%. NiSource’s dividend payout ratio (DPR) is presently 69.14%.

Insider Activity at NiSource

In related news, CAO Gunnar Gode sold 5,500 shares of NiSource stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $219,560.00. Following the sale, the chief accounting officer now directly owns 24,758 shares of the company’s stock, valued at $988,339.36. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of NiSource

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its stake in shares of NiSource by 1.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 13,987 shares of the utilities provider’s stock valued at $514,000 after purchasing an additional 256 shares in the last quarter. Securian Asset Management Inc. increased its holdings in NiSource by 1.1% in the 4th quarter. Securian Asset Management Inc. now owns 25,087 shares of the utilities provider’s stock valued at $922,000 after buying an additional 282 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of NiSource by 4.2% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 7,303 shares of the utilities provider’s stock valued at $268,000 after buying an additional 291 shares in the last quarter. Aviso Financial Inc. lifted its holdings in shares of NiSource by 1.0% during the 4th quarter. Aviso Financial Inc. now owns 31,450 shares of the utilities provider’s stock worth $1,156,000 after acquiring an additional 300 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of NiSource by 5.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 5,648 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 300 shares in the last quarter. 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.