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Jefferies sees value in NiSource and Southwest Gas, upgrades both to Buy » 08:08
03/18/20
03/18
08:08
03/18/20
08:08
NI

NiSource

$24.55 /

+3.61 (+17.24%)

, SWX

Southwest Gas

$59.37 /

+7.03 (+13.43%)

As previously reported,…

As previously reported, Jefferies analyst Christopher Sighinolfi upgraded NiSource (NI) to Buy from Hold with an unchanged $28 price target and upgraded Southwest Gas Holdings (SWX) to Buy from Hold with a $72 price target, down from $78. Following "indiscriminate selling" of utilities as COVID-19 fear spread, he believes many stocks in the sector are now attractive. Across the space balance sheets are in "great shape," liquidity is sufficient and rate-regulated models insulate earnings and cash flow, Sighinolfi tells investors.

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NiSource upgraded to Buy from Hold at Jefferies » 05:01
03/18/20
03/18
05:01
03/18/20
05:01
NI

NiSource

$24.55 /

+3.61 (+17.24%)

Jefferies analyst…

Jefferies analyst Christopher Sighinolfi upgraded NiSource to Buy from Hold with a $28 price target.

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Downgrade
NiSource downgraded to Equal Weight from Overweight at Barclays » 04:54
03/12/20
03/12
04:54
03/12/20
04:54
NI

NiSource

$27.10 /

-1.42 (-4.98%)

Barclays analyst Eric…

Barclays analyst Eric Beaumont downgraded NiSource to Equal Weight from Overweight with a $31 price target.

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Over a month ago
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NiSource upgraded to Outperform from Neutral at Credit Suisse » 06:27
02/28/20
02/28
06:27
02/28/20
06:27
NI

NiSource

$27.33 /

-0.46 (-1.66%)

Credit Suisse analyst…

Credit Suisse analyst Michael Weinstein upgraded NiSource to Outperform from Neutral with a price target of $31, up from $30. The analyst sees lower gas system operations safety and regulatory risk after the company agreed to sell its Massachusetts gas utility for $1.1B. Further, he notes NiSource eliminated a planned $500M-$700M block equity issuance this year.

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Hot Stocks
NiSource sells Columbia Gas of Massachusetts to Eversource » 19:36
02/26/20
02/26
19:36
02/26/20
19:36
NI

NiSource

$27.79 /

-0.6 (-2.11%)

, ES

Eversource

$93.45 /

-0.05 (-0.05%)

NiSource (NI) announced…

NiSource (NI) announced that it has entered into a definitive agreement under which Eversource Energy (ES) will acquire Columbia Gas of Massachusetts' business. With Columbia Gas, Eversource will serve 626,000 natural gas customers in Massachusetts alone across more than 60 communities. Until the close of the transaction, which is expected to occur by the end of the third quarter 2020, NiSource will continue to remain focused on driving customer safety and service at Columbia Gas, as well as continuing to make ongoing enhancements in all areas of operations going forward.

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Hot Stocks
Eversource to acquire Columbia Gas of Massachusetts assets for $1.1B » 18:07
02/26/20
02/26
18:07
02/26/20
18:07
ES

Eversource

$93.45 /

-0.05 (-0.05%)

, NI

NiSource

$27.79 /

-0.6 (-2.11%)

Eversource Energy (ES)…

Eversource Energy (ES) announced that it has reached an agreement to purchase the Massachusetts natural gas assets of Columbia Gas for $1.1B from NiSource (NI). The acquisition will bring Columbia Gas operations in Massachusetts under local ownership by the largest energy company in New England. Columbia Gas currently serves 330,000 natural gas customers in more than 60 communities in Massachusetts. Eversource has 300,000 natural gas customers and 1.5 million electric customers in 51 communities across the commonwealth. Many communities that Columbia Gas serves with natural gas already receive electric service from Eversource. Under the asset purchase agreement, liabilities related to the September 2018 gas distribution incidents in the Merrimack Valley will remain the responsibility of Columbia Gas's current parent company, NiSource. The transaction is expected to be accretive to Eversource's earnings per share in the first 12 months after closing. The company plans to finance the transaction with a balance of new equity and debt that maintains its strong credit profile. The transaction will require approval from the Massachusetts Department of Public Utilities and the U.S. Justice Department under the Hart-Scott-Rodino Act. Eversource and Columbia Gas intend to engage with key regulatory stakeholders and consumer advocates over the next 30 days to review the investments needed to operate the system, to minimize rate impacts and review key benefits for customers. The parties expect to close the transaction by the end of the third quarter 2020. "Eversource is uniquely positioned to leverage the strengths of our current and future workforce, facilities, gas supply resources and business processes to achieve greater operational efficiency, while continuing to deliver on our unwavering commitment to safety and superior service for our customers," said Eversource Chairman, President and CEO Jim Judge. "As the #1 rated energy company in the U.S. by Newsweek and the #1 ranked utility according to Forbes and JUST Capital for corporate social responsibility, we are focused on providing safe and reliable service to our customers while at the same time nurturing a diverse and engaged workplace for employees and working to protect the environment. We look forward to bringing that commitment to all of our new customers and employees."

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Periodicals
NiSource subsidiary to plead guilty, pay $53M over gas explosions, Reuters says » 10:51
02/26/20
02/26
10:51
02/26/20
10:51
NI

NiSource

$28.61 /

+0.22 (+0.77%)

Columbia Gas of…

Columbia Gas of Massachusetts, a NiSource subsidiary, has agreed to pay $53M and plead guilty to violating the Pipeline Safety Act to settle a probe into 2018 Massachusetts gas explosions, Reuters' Nate Raymond reports, citing federal prosecutors. The explosions killed one person, injured at least 21 and destroyed buildings and Columbia said in a statement it would take "full responsibility for the tragic events of September 13, 2018 that so impacted our customers throughout the Merrimack Valley." Reference Link

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Initiation
NiSource initiated with an Outperform at BMO Capital » 16:29
02/19/20
02/19
16:29
02/19/20
16:29
NI

NiSource

$30.03 /

-0.185 (-0.61%)

BMO Capital analyst James…

BMO Capital analyst James Thalacker initiated coverage of NiSource with an Outperform rating and $32 price target. The analyst's five-year forecast supports consolidated earnings growth in line with the midpoint of the company's current 5%-7% target, but he thinks "this could be biased to the upside."

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Recommendations
Evercore upgrades four, downgrades four in rebalancing of Utilities ratings » 09:31
01/27/20
01/27
09:31
01/27/20
09:31
CNP

CenterPoint Energy

$26.47 /

-0.465 (-1.73%)

, DTE

DTE Energy

$132.77 /

-1.15 (-0.86%)

, NI

NiSource

$29.07 /

-0.12 (-0.41%)

, PNW

Pinnacle West

$97.12 /

+1.29 (+1.35%)

, CMS

CMS Energy

$67.53 /

+0.42 (+0.63%)

, NEE

NextEra Energy

$263.77 /

+3.77 (+1.45%)

, ES

Eversource

$91.82 /

+0.62 (+0.68%)

, WEC

WEC Energy

$98.96 /

+0.28 (+0.28%)

As previously reported,…

As previously reported, Evercore ISI analyst Greg Gordon upgraded CenterPoint Energy (CNP), DTE Energy (DTE) and NiSource (NI), all to Outperform from In Line, and upgraded Pinnacle West (PNW) to In Line from Underperform as he rolled out his 2022 EPS forecasts, updated his price targets and rebalanced his ratings in the Power and Utilities space. Additionally, Gordon downgraded CMS Energy (CMS) and NextEra Energy (NEE), both to In Line from Outperform, and cut his ratings for Eversource (ES) and WEC Energy (WEC) to Underperform from In Line. Regulated utility stocks now look "fully priced to expensive," said Gordon, who is "consciously tilting to value over quality on the margin" as he makes his stock selections in the space.

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NiSource upgraded to Outperform from In Line at Evercore ISI » 08:16
01/27/20
01/27
08:16
01/27/20
08:16
NI

NiSource

$29.07 /

-0.12 (-0.41%)

Evercore ISI analyst Greg…

Evercore ISI analyst Greg Gordon upgraded NiSource to Outperform from In Line with a $31 price target.

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