NiSource (NYSE:NI) Price Target Lowered to $28.00 at UBS Group

NiSource (NYSE:NI) had its price objective cut by UBS Group from $30.00 to $28.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the utilities provider’s stock.

A number of other research firms have also recently issued reports on NI. Barclays upgraded NiSource from an equal weight rating to an overweight rating and cut their price objective for the stock from $32.00 to $31.00 in a report on Thursday, October 31st. Credit Suisse Group set a $29.00 price objective on NiSource and gave the company a hold rating in a report on Friday, November 1st. Finally, ValuEngine raised NiSource from a sell rating to a hold rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $29.36.

Shares of NYSE:NI traded up $0.10 during trading on Wednesday, reaching $26.60. The company had a trading volume of 145,699 shares, compared to its average volume of 3,065,502. The company has a fifty day moving average of $27.03 and a two-hundred day moving average of $28.58. 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 stock has a market capitalization of $9.88 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 3.87 and a beta of 0.20. NiSource has a 12 month low of $24.36 and a 12 month high of $30.67.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). NiSource had a return on equity of 9.70% and a net margin of 9.70%. The company had revenue of $931.50 million for the quarter, compared to the consensus estimate of $939.83 million. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, equities research analysts predict that NiSource will post 1.3 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC purchased a new position in shares of NiSource in the second quarter worth about $77,273,000. Millennium Management LLC boosted its stake in shares of NiSource by 1,533.0% during the third quarter. Millennium Management LLC now owns 1,873,550 shares of the utilities provider’s stock valued at $56,056,000 after purchasing an additional 1,758,821 shares during the period. Zimmer Partners LP grew its holdings in shares of NiSource by 12.1% in the third quarter. Zimmer Partners LP now owns 14,725,914 shares of the utilities provider’s stock worth $440,599,000 after purchasing an additional 1,584,709 shares during the last quarter. Luminus Management LLC grew its holdings in shares of NiSource by 117.6% in the second quarter. Luminus Management LLC now owns 2,666,933 shares of the utilities provider’s stock worth $76,808,000 after purchasing an additional 1,441,055 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of NiSource by 500.8% in the third quarter. Retirement Systems of Alabama now owns 1,045,295 shares of the utilities provider’s stock worth $31,275,000 after buying an additional 871,298 shares during the period. Institutional investors own 91.18% of the company’s stock.

About NiSource

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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Analyst Recommendations for NiSource (NYSE:NI)

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