NEW YORK (TheStreet) -- Shares of NiSource Inc. (NI) are higher by 1.10% to $41.29 in pre-market trading on Tuesday, as the stock continues Monday's gain, following the company's announcement it's spinning off its natural gas pipeline business, forming a new master limited partnership called Columbia Pipeline Partners LP.
The spin off is expected to take place in mid-2015, and the company will be listed on the NYSE under the symbol "COLP."
Additionally, analysts at Credit Suisse upgraded NiSource to "outperform" from "neutral" as it believes the company's growth prospects are increasing, due to the pipeline separation.
Separately, TheStreet Ratings team rates NISOURCE INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NISOURCE INC (NI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: NI Ratings Report