NiSource (NI) Upgraded at Evercore ISI

Evercore ISI upgraded shares of NiSource (NYSE:NI) to an underperform rating in a research report released on Monday morning, The Fly reports.

A number of other analysts have also issued reports on NI. Bank of America lifted their price target on shares of NiSource from $27.00 to $28.00 and gave the stock a buy rating in a research note on Friday, November 2nd. KeyCorp lifted their price target on shares of NiSource from $26.00 to $27.00 and gave the stock a $26.15 rating in a research note on Thursday, July 19th. Zacks Investment Research lowered shares of NiSource from a buy rating to a hold rating in a research note on Tuesday, July 17th. TheStreet lowered shares of NiSource from a b rating to a c+ rating in a research note on Thursday, November 1st. Finally, Barclays dropped their price target on shares of NiSource from $27.00 to $26.00 and set a hold rating for the company in a research note on Tuesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $27.27.

Shares of NI traded down $0.29 during mid-day trading on Monday, reaching $25.87. 47,191 shares of the stock traded hands, compared to its average volume of 3,728,304. The firm has a market capitalization of $9.48 billion, a P/E ratio of 21.57, a P/E/G ratio of 3.70 and a beta of 0.12. NiSource has a 12-month low of $22.44 and a 12-month high of $28.11. The company has a quick ratio of 0.26, a current ratio of 0.40 and a debt-to-equity ratio of 1.52.

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

In other NiSource news, EVP Carrie J. Hightman sold 27,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $26.75, for a total transaction of $722,250.00. Following the completion of the sale, the executive vice president now owns 325,066 shares in the company, valued at $8,695,515.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new position in shares of NiSource during the second quarter valued at $104,000. Tower Research Capital LLC TRC acquired a new position in shares of NiSource during the second quarter valued at $105,000. Advisors Asset Management Inc. acquired a new position in shares of NiSource during the second quarter valued at $110,000. Chicago Partners Investment Group LLC boosted its holdings in shares of NiSource by 114.2% during the third quarter. Chicago Partners Investment Group LLC now owns 4,444 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 2,369 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of NiSource by 286.6% during the second quarter. Parallel Advisors LLC now owns 4,701 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 3,485 shares during the period. Hedge funds and other institutional investors own 90.72% 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. 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.

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