NiSource(NYSE:NI) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $1.304B. Analysts estimated a revenue of $1.180B. The revenues were 10.51% above the estimates. Earnings per share were $0.33. The reported EPS was below estimates by -2.94%. Analysts had estimated an EPS of $0.34.
In a different note, Goldman Sachs said it Initiates Coverage On NiSource, according to a research note issued on Dec 15, 2016. In the research note, the firm Announces the price-target to $23 per share. The shares have been rated ‘Neutral’ by the firm. On Dec 14, 2016, Citigroup said it Upgrades its rating on NiSource. The shares have been rated ‘Buy’ by the firm.
NiSource (NI) made into the market gainers list on Wednesdays trading session with the shares advancing 0.78% or 0.18 points. Due to strong positive momentum, the stock ended at $23.17, which is also near the day’s high of $23.175. The stock began the session at $23.04 and the volume stood at 35,73,006 shares. The 52-week high of the shares is $26.94 and the 52 week low is $20.94. The company has a current market capitalization of $7,478 M and it has 32,27,37,780 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Jan 9, 2017, Michael E Jesanis (director) purchased 12,000 shares at $22.53 per share price.Also, On Nov 18, 2016, Pablo Vegas (EVP & President Columbia Gas) purchased 21,541 shares at $21.75 per share price.On Sep 1, 2016, Teresa M Smith (VP, Human Resources) sold 1,200 shares at $23.75 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.