NiSource Inc. (NI) Short Interest Update

NiSource Inc. (NYSE:NI) saw a significant drop in short interest in March. As of March 29th, there was short interest totalling 19,219,778 shares, a drop of 15.0% from the March 15th total of 22,606,381 shares. Based on an average daily volume of 2,338,150 shares, the days-to-cover ratio is presently 8.2 days. Currently, 5.2% of the company’s stock are sold short.

Shares of NYSE NI opened at $27.98 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.51 and a quick ratio of 0.40. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 3.54 and a beta of 0.28. NiSource has a fifty-two week low of $23.23 and a fifty-two week high of $28.85.

NiSource (NYSE:NI) last issued its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. NiSource had a positive return on equity of 9.69% and a negative net margin of 0.99%. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities analysts anticipate that NiSource will post 1.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Tuesday, April 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, April 29th. NiSource’s dividend payout ratio is presently 61.54%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cedar Wealth Management LLC acquired a new stake in shares of NiSource during the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC lifted its holdings in shares of NiSource by 173.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,031 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 654 shares during the period. Pearl River Capital LLC acquired a new stake in shares of NiSource during the fourth quarter worth about $35,000. Lindbrook Capital LLC acquired a new stake in shares of NiSource during the fourth quarter worth about $38,000. Finally, Cornerstone Advisors Inc. raised its position in NiSource by 136.2% during the third quarter. Cornerstone Advisors Inc. now owns 1,734 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 1,000 shares in the last quarter. 93.43% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research downgraded NiSource from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Goldman Sachs Group raised NiSource from a “neutral” rating to a “buy” rating and raised their price target for the stock from $26.00 to $29.00 in a report on Monday, April 8th. ValuEngine raised NiSource from a “hold” rating to a “buy” rating in a report on Friday, March 1st. KeyCorp raised their price target on NiSource from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, December 17th. Finally, Guggenheim raised NiSource from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $27.85.

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NiSource Company Profile

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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