On Apr 19, 2013, the shares of energy holding company
) achieved a new 52-week high of $31.10. The company's superior
midstream programs are the primary factors triggering the stock
to reach a new high. It also reported favorable earnings
surprises in three of the last four quarters with an average beat
NiSource's persistent drive towards enhancing its
infrastructure has served the company well. Its natural gas
ventures in the transportation and storage business fetched
lucrative returns in 2012. The company further plans to spend
$700 million for the improvement of its assets in 2013.
The proceeds of $120.0 million gained from the asset sell-off
AGL Resources Inc.
) will help the company to lower its outstanding debt. NiSource
managed to retain its credit rating with both Fitch's and
Standard & Poor. Both rating agencies have maintained a
stable outlook on the company. This acted as an added incentive
in terms of easy access to the capital markets as well as lower
cost of borrowing.
Furthermore, NiSource's solid financial position has enabled
the company to successfully carry on its high-quality
transmission programs like the Big Pine Gathering System as well
as the combined project with Hilcorp.
The long-term expected earnings growth rate is set at 7.6%
while the Zacks Consensus Estimate for 2013 reflects a projected
climb of 8.51% to $1.55 from $1.43 in 2012.
The company currently carries a Zacks Rank #3 (Hold). Other
utility stocks performing well are
Brookfield Infrastructure Partners L.P.
Pike Electric Corp.
). Both the stocks retain a Zacks Rank #1 (Strong Buy).
BROOKFIELD INFR (BIP): Free Stock Analysis
AGL RESOURCES (GAS): Free Stock Analysis
NISOURCE INC (NI): Free Stock Analysis Report
PIKE ELECTRIC (PIKE): Free Stock Analysis
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