NiSource (NYSE:NI) Reaches New 12-Month High – Here’s Why

NiSource Inc. (NYSE:NI) hit a new 52-week high on Monday . The company traded as high as $38.22 and last traded at $38.16, with a volume of 228715 shares. The stock had previously closed at $37.71.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price objective on shares of NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Bank of America assumed coverage on shares of NiSource in a research note on Thursday, September 12th. They issued a “buy” rating and a $37.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on NiSource from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective 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 eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.50.

NiSource Stock Performance

The firm has a market cap of $17.71 billion, a P/E ratio of 22.85, a P/E/G ratio of 3.14 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.35 and a current ratio of 0.46. The company’s 50 day moving average is $35.04 and its 200 day moving average is $31.95.

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%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. As a group, equities analysts predict that NiSource Inc. will post 1.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NiSource

A number of hedge funds have recently added to or reduced their stakes in NI. MCF Advisors LLC purchased a new stake in shares of NiSource during the second quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC bought a new stake in NiSource in the 2nd quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new stake in NiSource during the third quarter valued at about $33,000. Family Firm Inc. purchased a new stake in NiSource during the second quarter valued at about $43,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in NiSource in the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds 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.