NiSource (NYSE:NI) Reaches New 52-Week High at $29.05

NiSource Inc. (NYSE:NI) reached a new 52-week high on Tuesday . The stock traded as high as $29.05 and last traded at $28.96, with a volume of 843373 shares changing hands. The stock had previously closed at $28.76.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NI. Barclays lifted their target price on NiSource from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com raised NiSource from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th.

NiSource Trading Up 1.0 %

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.85 and a quick ratio of 0.76. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.78 and a beta of 0.49. The business’s 50 day moving average is $27.23 and its 200 day moving average is $26.40.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). NiSource had a net margin of 12.98% and a return on equity of 10.10%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $0.50 EPS. As a group, equities analysts expect that NiSource Inc. will post 1.71 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.06 annualized dividend and a dividend yield of 3.65%. NiSource’s dividend payout ratio is presently 72.11%.

Insider Activity at NiSource

In other news, SVP Melanie B. Berman sold 11,141 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $26.66, for a total value of $297,019.06. Following the completion of the sale, the senior vice president now directly owns 23,720 shares of the company’s stock, valued at approximately $632,375.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Trading of NiSource

A number of large investors have recently bought and sold shares of the business. Lindbrook Capital LLC lifted its position in NiSource by 23.8% during the 1st quarter. Lindbrook Capital LLC now owns 1,922 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 369 shares during the period. Beacon Pointe Advisors LLC lifted its position in NiSource by 3.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 13,176 shares of the utilities provider’s stock worth $350,000 after acquiring an additional 405 shares during the period. Raymond James Trust N.A. lifted its position in NiSource by 4.9% during the 4th quarter. Raymond James Trust N.A. now owns 8,930 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 414 shares during the period. Sound Income Strategies LLC lifted its position in NiSource by 11.1% during the 1st quarter. Sound Income Strategies LLC now owns 4,493 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 449 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of NiSource by 7.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,185 shares of the utilities provider’s stock valued at $164,000 after buying an additional 451 shares during the period. Institutional investors and hedge funds own 91.64% 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. 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.