NiSource (NYSE:NI) Reaches New 12-Month High – Here’s Why

NiSource Inc. (NYSE:NI) hit a new 52-week high on Tuesday . The stock traded as high as $40.29 and last traded at $39.94, with a volume of 4369919 shares changing hands. The stock had previously closed at $40.07.

Analysts Set New Price Targets

Several analysts have recently issued reports on NI shares. Mizuho increased their target price on NiSource from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group began coverage on shares of NiSource in a research note on Monday, October 28th. They set a “buy” rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of NiSource from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $38.13.

NiSource Stock Performance

The stock has a market cap of $18.77 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 2.56 and a beta of 0.54. The company has a quick ratio of 0.41, a current ratio of 0.51 and a debt-to-equity ratio of 1.13. The company has a 50 day simple moving average of $37.49 and a 200 day simple moving average of $35.73.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). NiSource had a return on equity of 7.87% and a net margin of 13.94%. During the same quarter last year, the firm earned $0.53 EPS. As a group, equities research analysts forecast that NiSource Inc. will post 1.91 EPS for the current year.

NiSource Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 2.80%. This is a positive change from NiSource’s previous quarterly dividend of $0.27. NiSource’s payout ratio is currently 69.14%.

Insiders Place Their Bets

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $39.92, for a total value of $219,560.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,758 shares in the company, valued at approximately $988,339.36. This represents a 18.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NI. JPMorgan Chase & Co. raised its holdings in NiSource by 88.4% during 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 last quarter. Millennium Management LLC boosted its position in NiSource by 185.0% during the fourth quarter. Millennium Management LLC now owns 9,244,744 shares of the utilities provider’s stock valued at $339,837,000 after acquiring an additional 6,001,486 shares during the last quarter. Capital International Investors acquired a new stake in NiSource during the 4th quarter worth about $219,977,000. Norges Bank bought a new position in shares of NiSource in the 4th quarter worth about $195,745,000. Finally, Invesco Ltd. lifted its stake in shares of NiSource by 49.5% in the 4th quarter. Invesco Ltd. now owns 8,199,873 shares of the utilities provider’s stock valued at $301,427,000 after purchasing an additional 2,714,262 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

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.