NiSource price target lowered to $30 from $31 at Evercore ISI

Evercore ISI analyst Durgesh Chopra lowered the firm’s price target on NiSource (NI) to $30 from $31 and keeps an Outperform rating on the shares. NiSource announced an agreement to sell the 19.9% non-controlling equity interest in NIPSCO for $2.15B to an affiliate of Blackstone Infrastructure Partners, Blackstone’s (BX) dedicated Infrastructure group, with additional equity commitment of $250M to fund ongoing capital requirements. With this transaction, NiSource continues to execute strongly on the plan laid out in November, the analyst tells investors in a research note.