NiSource (NI) Stock Rating Lowered by Zacks Investment Research

NiSource (NYSE:NI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Shares of NiSource have gained higher than the industry it belongs to in the last 12 months. NiSource is benefiting from continued execution of its infrastructure investment strategy.  NiSource will annually invest nearly $1.6-$1.8 billion in planned utility infrastructures from 2019 to 2020 and has identified long-term infrastructure investments worth $30 billion. The company is also working actively to reduce its carbon footprint by bringing down the coal usage. Despite investing in upgrade programs, NiSource Inc. faces the risk of disruption in operation from its ageing infrastructure. NiSource’s rising debt level amid increasing interest rates is another concern.”

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Group reissued a “hold” rating and issued a $26.00 target price on shares of NiSource in a research report on Wednesday, December 20th. Citigroup boosted their target price on shares of NiSource from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Credit Suisse Group boosted their target price on shares of NiSource from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. KeyCorp reissued a “buy” rating and issued a $29.50 target price on shares of NiSource in a research report on Friday, October 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NiSource from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. NiSource presently has an average rating of “Buy” and an average price target of $27.85.

NiSource (NYSE:NI) traded down $0.11 during mid-day trading on Wednesday, reaching $25.09. 3,428,800 shares of the company’s stock were exchanged, compared to its average volume of 2,751,500. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.32 and a current ratio of 0.52. NiSource has a 1 year low of $21.65 and a 1 year high of $27.76. The company has a market capitalization of $8,450.00, a PE ratio of 30.23, a price-to-earnings-growth ratio of 3.32 and a beta of 0.43.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $901.00 million. NiSource had a net margin of 5.61% and a return on equity of 8.97%. During the same quarter in the previous year, the business posted $0.06 earnings per share. research analysts expect that NiSource will post 1.2 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. TCI Wealth Advisors Inc. raised its stake in NiSource by 0.4% during the second quarter. TCI Wealth Advisors Inc. now owns 6,078 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 24 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in NiSource by 0.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,636 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 68 shares in the last quarter. D.A. Davidson & CO. raised its stake in NiSource by 1.2% during the second quarter. D.A. Davidson & CO. now owns 11,644 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 134 shares in the last quarter. Advisor Group Inc. raised its stake in NiSource by 1.1% during the second quarter. Advisor Group Inc. now owns 15,317 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 174 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in NiSource by 4.4% during the second quarter. Advisory Services Network LLC now owns 4,740 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 200 shares in the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.

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NiSource Company Profile

NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Company’s Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.

Analyst Recommendations for NiSource (NYSE:NI)

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