Yesterday’s Analyst’s Downgrade: NiSource Inc (NI)

NiSource Inc. (NYSE:NI) received a stock rating downgrade from JP Morgan on Mar-29-16. In a note to investors, the firm issued a Neutral rating and also issued the target price on the stock of $24. The analysts previously had an Overweight rating on the stock.

The 52-week price range is $ 15.80 – 23.42 and the company has a market capitalization of $ 7.41Bbillion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 5 has assigned a hold rating, zero says it’s a buy, and 4 have assigned a strong buy rating to the company.

NiSource Inc. (NI) on March 24, 2016 announced that on March 22, 2016 its Board of Directors elected Wayne S. DeVeydt to the Board.

DeVeydt currently serves as executive vice president and chief financial officer at Indiana-based Anthem, Inc., a position he’s held since 2007. Prior to his role as Anthem’s CFO, he served as senior vice president and chief accounting officer at Anthem and before that was a partner at PricewaterhouseCoopers LLP.

“Wayne brings a strong complement of financial and leadership acumen to our already-experienced Board of Directors,” said NiSource Board Chairman Richard L. Thompson. “Wayne’s experience in a regulated industry, including significant experience in capital markets, corporate governance, risk management and strategic planning will be a great asset as NiSource executes on its robust long-term utility investment programs that continue to deliver enhanced value for customers and shareholders.”

DeVeydt is a board member of the U.S. Chamber of Commerce and the Cancer Support Community, Central Indiana. He is also a member of the Boys & Girls Clubs of America Board of Governors. He previously served as a board member for the YMCA of Greater Indianapolis and The Children’s Museum of Indianapolis.

DeVeydt received a bachelor’s degree in accounting from the University of Missouri in St. Louis.

As part of NiSource’s commitment to contemporary governance practices, shareholders elect members of the NiSource Board of Directors for one-year terms at the company’s annual shareholders meeting. All current directors, including DeVeydt, will be up for re-election at this year’s NiSource annual shareholders meeting.

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