KeyCorp Increases NiSource (NI) Price Target to $28.00

NiSource (NYSE:NI) had its price objective lifted by equities researchers at KeyCorp from $27.00 to $28.00 in a report released on Friday, November 2nd. The brokerage presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price would suggest a potential upside of 7.03% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Evercore ISI lowered shares of NiSource from an “in-line” rating to an “underperform” rating in a research note on Friday, September 14th. Goldman Sachs Group cut shares of NiSource from a “conviction-buy” rating to a “buy” rating and set a $29.00 target price for the company. in a report on Friday, September 21st. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Wednesday, October 3rd. Bank of America reaffirmed a “buy” rating and issued a $28.00 target price on shares of NiSource in a report on Monday, September 17th. Finally, ValuEngine cut shares of NiSource from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.27.

NYSE:NI traded up $0.20 during mid-day trading on Friday, hitting $26.16. 3,057,783 shares of the company’s stock were exchanged, compared to its average volume of 3,670,073. NiSource has a one year low of $22.44 and a one year high of $28.11. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.40 and a quick ratio of 0.26. The firm has a market capitalization of $9.50 billion, a P/E ratio of 21.62, a PEG ratio of 3.71 and a beta of 0.12.

NiSource (NYSE:NI) last posted its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. NiSource had a negative net margin of 1.82% and a positive return on equity of 9.30%. The business had revenue of $895.00 million for the quarter, compared to analyst estimates of $946.10 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts expect that NiSource will post 1.29 earnings per share for the current fiscal year.

In other NiSource news, CFO Donald Eugene Brown sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $26.18, for a total transaction of $62,832.00. Following the completion of the sale, the chief financial officer now directly owns 46,767 shares of the company’s stock, valued at $1,224,360.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its position in shares of NiSource by 5.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 36,838 shares of the utilities provider’s stock worth $968,000 after purchasing an additional 1,878 shares during the period. Hartford Investment Management Co. boosted its position in shares of NiSource by 5.4% in the third quarter. Hartford Investment Management Co. now owns 41,289 shares of the utilities provider’s stock worth $1,029,000 after purchasing an additional 2,107 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of NiSource by 5.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 41,926 shares of the utilities provider’s stock worth $1,045,000 after purchasing an additional 2,149 shares during the period. First Republic Investment Management Inc. boosted its position in shares of NiSource by 18.0% in the second quarter. First Republic Investment Management Inc. now owns 14,263 shares of the utilities provider’s stock worth $374,000 after purchasing an additional 2,174 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of NiSource by 8.7% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 27,860 shares of the utilities provider’s stock worth $732,000 after purchasing an additional 2,231 shares during the period. Institutional investors and hedge funds own 90.72% 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. The company operates in two segments, Gas Distribution Operations and Electric Operations. It provides natural gas service and transportation to residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and offers wholesale and transmission transaction services.

Featured Story: Price to Earnings Ratio (PE)

Analyst Recommendations for NiSource (NYSE:NI)

Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply