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

NiSource Inc. (NYSE:NI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.69 and last traded at $38.72, with a volume of 120290 shares traded. The stock had previously closed at $38.11.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NI shares. Jefferies Financial Group initiated coverage on shares of NiSource in a report on Monday, October 28th. They set a “buy” rating and a $39.00 price objective on the stock. Barclays raised their price target on shares of NiSource from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Mizuho lifted their price target on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.50.

NiSource Stock Performance

The stock has a 50-day moving average of $36.94 and a 200 day moving average of $34.43. The stock has a market cap of $17.61 billion, a PE ratio of 22.87, a P/E/G ratio of 2.79 and a beta of 0.54. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, October 30th. The utilities provider reported $0.20 earnings per share for the quarter, beating the consensus estimate 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%. NiSource’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. Equities analysts predict that NiSource Inc. will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in NiSource by 5.8% in the third quarter. State Street Corp now owns 22,691,174 shares of the utilities provider’s stock valued at $786,249,000 after purchasing an additional 1,247,368 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of NiSource by 88.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock valued at $516,373,000 after buying an additional 6,991,608 shares during the period. FMR LLC grew its position in shares of NiSource by 0.9% during the third quarter. FMR LLC now owns 11,396,489 shares of the utilities provider’s stock worth $394,888,000 after buying an additional 99,882 shares in the last quarter. Jennison Associates LLC increased its stake in shares of NiSource by 3.0% during the third quarter. Jennison Associates LLC now owns 10,823,095 shares of the utilities provider’s stock worth $375,020,000 after buying an additional 316,225 shares during the period. Finally, Geode Capital Management LLC raised its holdings in NiSource by 1.7% in the third quarter. Geode Capital Management LLC now owns 10,747,328 shares of the utilities provider’s stock valued at $371,139,000 after acquiring an additional 178,365 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

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.