Weekly Investment Analysts’ Ratings Changes for NiSource (NI)

NiSource (NYSE: NI) recently received a number of ratings updates from brokerages and research firms:

  • 4/22/2019 – NiSource was downgraded by analysts at Bank of America Corp from a “buy” rating to a “neutral” rating.
  • 4/16/2019 – NiSource was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “NiSource's shares have underperformed the industry in the past three months.Despite investments to upgrade programs, NiSource's ageing infrastructure is likely to cause disruption in operation. Debt level is another headwind amid rising interest rates. There is always an inherent risk associated with the timely completion of projects and within budget. Delay in completion increases capital costs and stretches the time limit of the company’s expected benefit from these projects. However, the company has made considerable progress on regulatory initiatives across different states it operates in. The company has a 100% regulated utility business model. Its planned regulated investments will improve reliability as well as safety and provide efficient natural gas services to an increasing customer base.”
  • 4/16/2019 – NiSource was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 4/8/2019 – NiSource was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of NiSource have outperformed its industry in the past 12 months. NiSource has made considerable progress on regulatory initiatives across different states it operates in. The company has a 100% regulated utility business model. Its planned regulated investments will improve reliability and safety of its services and provide efficient natural gas services to its increasing customer base. However, despite investing in upgrade programs, NiSource's ageing infrastructure could cause disruption in operation. Debt level is another headwind amid rising interest rates. There is always an inherent risk associated with the timely completion of projects and within budget too. Delay in completion increases capital costs and stretches the time limit of the company’s expected benefit from these projects.”
  • 4/8/2019 – NiSource was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating. They now have a $29.00 price target on the stock, up previously from $26.00.
  • 4/1/2019 – NiSource was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Despite investing in upgrade programs, NiSource's ageing infrastructure could cause disruption in operation. Debt level is another headwind amid rising interest rates. There is always an inherent risk associated with the timely completion of projects and within budget too. Delay in completion increases capital costs and stretches the time limit of the company’s expected benefit from these projects. However, shares of NiSource have outperformed its industry in the past 12 months. NiSource has made considerable progress on regulatory initiatives across different states it operates in. NiSource has a 100% regulated utility business model. Its planned regulated investments will improve reliability and safety of its services and provide efficient natural gas services to its increasing customer base.”
  • 3/1/2019 – NiSource was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

NYSE NI opened at $27.56 on Monday. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 3.48 and a beta of 0.28. NiSource Inc. has a fifty-two week low of $23.23 and a fifty-two week high of $28.85. The company has a quick ratio of 0.40, a current ratio of 0.51 and a debt-to-equity ratio of 1.46.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, February 20th. The utilities provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. NiSource had a positive return on equity of 9.69% and a negative net margin of 0.99%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $0.33 EPS. Analysts forecast that NiSource Inc. will post 1.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Monday, April 29th. NiSource’s dividend payout ratio (DPR) is presently 61.54%.

Large investors have recently bought and sold shares of the company. Gulf International Bank UK Ltd boosted its holdings in NiSource by 3.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 81,058 shares of the utilities provider’s stock worth $2,323,000 after buying an additional 2,579 shares during the last quarter. Pennsylvania Trust Co acquired a new stake in NiSource in the 1st quarter worth about $9,194,000. Carroll Financial Associates Inc. boosted its holdings in NiSource by 110.2% in the 1st quarter. Carroll Financial Associates Inc. now owns 11,710 shares of the utilities provider’s stock worth $335,000 after buying an additional 6,139 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in NiSource by 3.7% in the 1st quarter. Retirement Systems of Alabama now owns 173,451 shares of the utilities provider’s stock worth $4,971,000 after buying an additional 6,253 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in NiSource by 3.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,700 shares of the utilities provider’s stock worth $565,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 93.44% of the company’s stock.

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 for residential, commercial, and industrial customers; generates, transmits, and distributes electricity; and wholesale and transmission transaction services.

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