J.P. Morgan Remains a Buy on Nisource (NI)

In a report released yesterday, Richard Sunderland from J.P. Morgan maintained a Buy rating on Nisource (NIResearch Report), with a price target of $34.00. The company’s shares closed yesterday at $29.52.

Sunderland covers the Utilities sector, focusing on stocks such as American Water, Atmos Energy, and Spire. According to TipRanks, Sunderland has an average return of 3.5% and a 66.67% success rate on recommended stocks.

Nisource has an analyst consensus of Strong Buy, with a price target consensus of $33.17.

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Based on Nisource’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.18 billion and a net profit of $67 million. In comparison, last year the company earned a revenue of $986 million and had a net profit of $60.3 million

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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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