NiSource (NYSE:NI) Shares Gap Down to $28.38

Shares of NiSource Inc. (NYSE:NI) gapped down before the market opened on Wednesday . The stock had previously closed at $29.10, but opened at $28.38. NiSource shares last traded at $27.75, with a volume of 10,577,955 shares.

A number of equities analysts recently commented on the stock. Wolfe Research raised shares of NiSource from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Wednesday, January 15th. BMO Capital Markets assumed coverage on shares of NiSource in a research note on Wednesday, February 19th. They set an “outperform” rating and a $32.00 price target for the company. UBS Group dropped their price target on shares of NiSource from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, December 4th. Barclays raised shares of NiSource from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $32.00 to $31.00 in a research note on Thursday, October 31st. Finally, Credit Suisse Group set a $29.00 price target on shares of NiSource and gave the stock a “hold” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $30.40.

The company has a current ratio of 0.41, a quick ratio of 0.28 and a debt-to-equity ratio of 1.58. The business’s 50 day moving average is $29.22 and its 200 day moving average is $28.39. The stock has a market capitalization of $10.21 billion, a PE ratio of 22.56, a PEG ratio of 4.13 and a beta of 0.21.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Tuesday, February 11th were issued a dividend of $0.21 per share. This is a positive change from NiSource’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. NiSource’s dividend payout ratio (DPR) is presently 64.62%.

A number of institutional investors and hedge funds have recently made changes to their positions in NI. Archer Investment Corp bought a new stake in NiSource during the 4th quarter valued at about $29,000. Great Diamond Partners LLC bought a new stake in NiSource during the 4th quarter valued at about $33,000. Orion Portfolio Solutions LLC bought a new stake in NiSource during the 4th quarter valued at about $52,000. Usca Ria LLC bought a new stake in NiSource during the 3rd quarter valued at about $60,000. Finally, Bartlett & Co. LLC bought a new stake in NiSource during the 3rd quarter valued at about $60,000. Institutional investors own 92.48% of the company’s stock.

NiSource Company Profile (NYSE:NI)

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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