In yesterday’s Wall Street session, NiSource Inc (NYSE:NI) shares traded at $26.36, down -1.09% from the previous session.
NI stock price is now 0.85% away from the 50-day moving average and -0.13% away from the 200-day moving average. The market capitalization of the company currently stands at $11.80B.
With the price target of $28, Barclays recently initiated with Overweight rating for NiSource Inc (NYSE: NI). On October 06, 2023, Ladenburg Thalmann recently initiated its ‘Buy’ rating on the stock quoting a target price of $25, while ‘UBS’ rates the stock as ‘Buy’
In other news, Brown Donald Eugene, EVP & Chief Innovation Officer sold 37,490 shares of the company’s stock on Mar 06 ’24. The stock was sold for $1,003,982 at an average price of $26.78. Upon completion of the transaction, the EVP & Chief Innovation Officer now directly owns 195,855 shares in the company, valued at $5.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 05 ’24, SVP & CHRO Berman Melanie B. sold 11,141 shares of the business’s stock. A total of $296,963 was realized by selling the stock at an average price of $26.66. This leaves the insider owning 23,720 shares of the company worth $0.63 million. A total of 0.59% of the company’s stock is owned by insiders.
During the past 12 months, NiSource Inc has had a low of $22.86 and a high of $28.95. As of last week, the company has a debt-to-equity ratio of 1.71, a current ratio of 0.85, and a quick ratio of 0.76. According to the stock market information, the enterprise value for the company is $24.17B, which is based on a 17.84 price-to-earnings ratio, a 2.44 price-to-earnings-growth ratio, and a beta of 0.48. The fifty day moving average price for NI is $26.13 and a two-hundred day moving average price translates $26.39 for the stock.
The latest earnings results from NiSource Inc (NYSE: NI) was released for Dec, 2023. According to the Utilities – Regulated Gas Company, earnings per share came in at $0.53, missing analysts’ expectations of $0.54 by -0.01. This compares to $0.52 EPS in the same period last year. The net profit margin was 12.01% and return on equity was 9.01% for NI. The company reported revenue of $1.42 billion for the quarter, compared to $1.7 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -16.58 percent. For the current quarter, analysts expect NI to generate $1.92B in revenue.
NiSource Inc(NI) 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. It also generates, transmits, and distributes electricity to approximately 0.5 million customers in various counties in the northern part of Indiana, as well as engages in wholesale electric and transmission transactions. It owns and operates coal-fired electric generating stations in Wheatfield and Michigan City; combined cycle gas turbine in West Terre Haute; natural gas generating units in Wheatfield; hydro generating plants in Carroll County and White County; wind generating units in White County, Indiana; and solar generating units in Jasper County and White County. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in April 1999. NiSource Inc. was founded in 1847 and is headquartered in Merrillville, Indiana.
