Zacks Investment Research cut shares of NiSource (NYSE:NI) from a buy rating to a hold rating in a report released on Tuesday morning.

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.”

Other equities research analysts have also recently issued research reports about the stock. 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. KeyCorp reissued a buy rating and issued a $29.50 target price on shares of NiSource in a research report on Friday, October 20th. Edward Jones raised shares of NiSource from a hold rating to a buy rating in a research report on Tuesday. 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. 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. NiSource has an average rating of Buy and an average price target of $27.41.

Shares of NiSource (NYSE:NI) traded down $0.06 during trading on Tuesday, hitting $24.07. 2,654,053 shares of the stock were exchanged, compared to its average volume of 2,930,011. The company has a market capitalization of $8,110.00, a PE ratio of 29.00, a PEG ratio of 3.27 and a beta of 0.43. NiSource has a 52 week low of $21.65 and a 52 week high of $27.76. 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 (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 1.53% and a return on equity of 1.32%. During the same quarter in the previous year, the business posted $0.06 earnings per share. equities analysts anticipate that NiSource will post 1.2 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NI. Tortoise Investment Management LLC bought a new stake in NiSource during the third quarter worth about $113,000. First Quadrant L P CA bought a new stake in NiSource during the third quarter worth about $114,000. Valeo Financial Advisors LLC bought a new stake in NiSource during the third quarter worth about $114,000. Advisory Services Network LLC lifted its position 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 purchasing an additional 200 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its position 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 purchasing an additional 24 shares during the period. 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.

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