NiSource (NI) is Downgraded by UBS to Neutral, Raises Price Target to $ 27

NiSource (NI) was Downgraded by UBS to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 27 from a previous price target of $25 . Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Jul 8, 2016.

On the company’s financial health, NiSource reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.57. The company had revenue of $957.30 million for the quarter, compared to analysts expectations of $1920.53 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.85 EPS.

NiSource opened for trading at $26.7 and hit $26.94 on the upside on Tuesday, eventually ending the session at $26.77, with a gain of 0.41% or 0.11 points. The heightened volatility saw the trading volume jump to 36,74,557 shares. Company has a market cap of $8,608 M.

Investors should note that on May 11, 2016, NiSource announced a cash dividend of $0.1650. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Aug 19, 2016.

In a different news, on Mar 8, 2016, Carl W Levander (EVP & Chief Regulatory Officer) sold 6,000 shares at $22.39 per share price. According to the SEC, on Mar 3, 2016, Robert Dale Campbell (EVP, Corporate Affairs & HR) sold 30,000 shares at $21.55 per share price. On Jun 15, 2015, Deborah S Parker (director) sold 3,429 shares at $46.17 per share price, according to the Form-4 filing with the securities and exchange commission.

NiSource Inc. (NiSource) is an energy holding company. The Company through its subsidiaries provides natural gas electricity and other products and services. It is also engaged in the distribution of natural gas. The Company’s business segments include: Gas Distribution Operations which provides natural gas service and transportation services for residential commercial and industrial customers in Ohio Pennsylvania Virginia Kentucky Maryland Indiana and Massachusetts; Columbia Pipeline Group Operations which provides gas transportation and storage services for local distribution companies (LDCs) marketers and industrial and commercial customers located in 16 northeastern mid-Atlantic Midwestern and southern states and the District of Columbia along with unregulated businesses that include midstream services and development of mineral rights positions and Electric Operations which provides electric services in approximately 20 counties in the northern part of Indiana.


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