After Wells Fargo and Barclays gave Nisource (NYSE: NI) a Buy rating last month, the company received another Buy, this time from Evercore ISI. Analyst Durgesh Chopra reiterated a Buy rating on Nisource yesterday and set a price target of $32.00. The company’s shares closed last Thursday at $29.31.
According to TipRanks.com, Chopra is a 4-star analyst with an average return of 9.0% and a 71.2% success rate. Chopra covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, Public Service Enterprise, and American Electric Power.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nisource with a $32.82 average price target, implying an 11.1% upside from current levels. In a report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $32.00 price target.
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Nisource’s market cap is currently $11.75B and has a P/E ratio of 22.91.
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NiSource, Inc. is a holding company, which engages in energy solutions. Through its subsidiaries, it provides natural gas, electricity, and other products and services. It operates through the following segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment focuses in the natural gas service and transportation for residential, commercial, and industrial customers. The Electric Operations segment generates, transmits, and distributes electricity. The company was founded in 1987 and is headquartered in Merrillville, IN.
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