NiSource (NYSE:NI) Price Target Raised to $43.00 at Wells Fargo & Company

NiSource (NYSE:NI) had its price objective boosted by research analysts at Wells Fargo & Company from $39.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.10% from the company’s current price.

A number of other research firms also recently issued reports on NI. Mizuho lifted their price objective on shares of NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of NiSource from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on NiSource from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on NiSource in a research report on Monday, October 28th. They set a “buy” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, NiSource presently has an average rating of “Moderate Buy” and an average target price of $38.13.

NiSource Stock Up 0.7 %

NYSE:NI traded up $0.26 on Thursday, hitting $39.06. The stock had a trading volume of 299,874 shares, compared to its average volume of 3,623,414. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 1.17. NiSource has a 52 week low of $25.13 and a 52 week high of $39.18. The business’s fifty day moving average is $36.99 and its 200 day moving average is $35.21. The company has a market cap of $18.23 billion, a PE ratio of 23.69, a P/E/G ratio of 2.50 and a beta of 0.54.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). NiSource had a net margin of 14.63% and a return on equity of 8.27%. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts expect that NiSource will post 1.73 EPS for the current fiscal year.

Institutional Trading of NiSource

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ING Groep NV bought a new stake in NiSource in the third quarter worth $748,000. Thomasville National Bank grew its position in NiSource by 3.0% during the 4th quarter. Thomasville National Bank now owns 567,196 shares of the utilities provider’s stock worth $20,850,000 after acquiring an additional 16,364 shares during the last quarter. JPMorgan Chase & Co. increased its stake in NiSource by 88.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,902,538 shares of the utilities provider’s stock worth $516,373,000 after purchasing an additional 6,991,608 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of NiSource by 21.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,712,724 shares of the utilities provider’s stock valued at $99,720,000 after purchasing an additional 483,491 shares during the period. Finally, Moran Wealth Management LLC bought a new stake in NiSource in the 3rd quarter worth $3,068,000. Hedge funds and other institutional investors 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.