The Vanguard Group, Inc. has recently announced that it has increased stake in NiSource Inc. (NYSE:NI) by 1.93%. After grabbing 51.87 million shares, the institutional investor is now in possession of 0.98 million shares of the Utilities Company. The new investment brought the stake of investor firm to 12.78% having worth around $1.33 billion. Moreover, BlackRock Fund Advisors increased its share by 2.43 million to have a control over 30.67 million shares. And SSgA Funds Management, Inc. raised its holdings to 1.91 million shares by acquiring 26.11 million shares or 6.43% of the stake.
NiSource Inc. (NI) concluded trading on 11/16/22 at a closing price of $26.00, with 4.1 million shares of worth about $106.68 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -14.92% during that period and on Wednesday the price saw a gain of about 1.25%. Currently the company’s common shares owned by public are about 406.50M shares, out of which, 404.59M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the NI stock and their offered price forecasts bring an average price target of $28.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $32.00 and could fall to a lowest price of $27.00. The stock’s current price level is 10.62% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.7% for the stock. However, touching the estimated high of $32.00 would mean a gain of 18.75% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 49 times over the past 12 months. They bought 315,067 shares in 35 of the transactions. In 14 selling transactions, insiders dumped 43,266 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in NiSource Inc. Vanguard Total Stock Market Index is currently holding 12.1 million shares of worth totaling $310.84 million. The company recently came buying 0.14 million shares which brought its stake up to 2.98% of the company’s outstanding shares. Vanguard Mid Cap Index Fund bought 30833.0 shares, after which its hold over company’s outstanding shares expand to 2.31%, leaving 9.36 million shares with the mutual fund that have a worth of about $240.46 million. Vanguard 500 Index Fund, after buying 9.2 million shares, have now control over 2.27% of the stake in the company. It holds 90692.0 shares of worth $236.33 million.
NiSource Inc. (NYSE: NI) started trading at $25.66, below -$0.02 from concluding price of the previous day. However, the stock later moved at a day high price of 26.22, or with a gain of 1.25%. Stock saw a price change of 4.46% in past 5 days and over the past one month there was a price change of 2.89%. Year-to-date (YTD), NI shares are showing a performance of -5.83% which increased to 2.85% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.78 but also hit the highest price of $32.58 during that period. The average intraday trading volume for NiSource Inc. shares is 4.44 million. The stock is currently trading 2.77% above its 20-day simple moving average (SMA20), while that difference is down -1.74% for SMA50 and it goes to -10.54% lower than SMA200.
The Vanguard Group, Inc. acquired 51.87 million shares of NiSource Inc. having value of about $1.33 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.98 million shares in the company valued at close to $25593568.0, or have control over 1.93% stake in the company. NiSource Inc. (NYSE: NI) currently have 406.50M outstanding shares and institutions hold larger chunk of about 98.00% of that. Holding of mutual funds in the company is about 46.15% while other institutional holders and individual stake holders have control over 51.80% and 1.68% of the stake respectively.
The stock has a current market capitalization of $10.67B and its 3Y-monthly beta is at 0.44. PE ratio of stock for trailing 12 months is 16.89, while it has posted earnings per share of $1.54 in the same period. Its PEG reads 2.38 and has Quick Ratio of 0.40 while making debt-to-equity ratio of 1.92. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NI, volatility over the week remained 2.68% while standing at 2.76% over the month.
Analysts are in expectations that NiSource Inc. (NI) stock would likely to be making an EPS of $0.12 in the current quarter, while forecast for next quarter EPS is $0.45 and it is $1.55 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.09 which is $0.15 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 773.10% while it is estimated to increase by 6.25% in next year. EPS is likely to grow at an annualized rate of 7.09% for next 5-years, compared to annual growth of 4.40% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the NiSource Inc. (NI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 11 Wall Street analysts, 8 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on November 09, 2022 offering an Outperform rating for the stock and assigned a target price of $27 to it. On April 26, 2022, Credit Suisse Initiated their recommendations, while on February 15, 2022, UBS Downgrade their ratings for the stock with a price target of $31. Stock get an Outperform rating from Evercore ISI on January 25, 2022.