Jennison Associates LLC recently announced the acquisition of new stake in NiSource Inc (NYSE:NI). The institutional investor has increased its shareholding in the Utilities company by 0.30% to 13.11 million shares with purchase of 39374.0 shares. This fresh investment now brings its stake to 3.17% valued currently at $329.88 million. In addition, Geode Capital Management LLC raised its holdings by 0.18 million to 9.16 million shares. And Invesco Capital Management LLC has lifted its position by 4.59% or 0.31 million shares – to 7.12 million shares.
With over 11.01 million NiSource Inc (NI) shares trading Friday and a closing price of $26.08 on the day, the dollar volume was approximately $287.12 million. The shares have shown a negative half year performance of -4.68% and its price on 11/17/23 gained nearly 1.20%. Currently, there are 412.14M common shares owned by the public and among those 411.85M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 344,164 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 101,707 shares.
The top 3 mutual fund holders in NiSource Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 12.86 million shares of the company’s stock, all valued at over $323.68 million. The company bought an additional 13501.0 shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard 500 Index Fund bought 43873.0 shares to see its total holdings expand to 9.98 million shares valued at over $251.01 million and representing 2.41% of the shares outstanding. Vanguard Mid Cap Index Fund bought 18525.0 shares to bring its total holdings to over 9.38 million shares at a value of $236.0 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.27% of the shares outstanding.
Shares of NiSource Inc (NYSE: NI) opened at $25.94, up $0.17 from a prior closing price of $25.77. However, the script later moved the day high at 26.11, up 1.20%. The company’s stock has a 5-day price change of 4.32% and -0.99% over the past three months. NI shares are trading -4.89% year to date (YTD), with the 12-month market performance up to 0.31% higher. It has a 12-month low price of $22.86 and touched a high of $28.95 over the same period. NI has an average intraday trading volume of 5.58 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.10%, 1.52%, and -3.39% respectively.
Institutional ownership of NiSource Inc (NYSE: NI) shares accounts for 95.71% of the company’s 412.14M shares outstanding. Mutual fund holders own 45.04%, while other institutional holders and individual stakeholders account for 51.59% and 1.72% respectively.
It has a market capitalization of $10.78B and a beta (3y monthly) value of 0.50. The stock’s trailing 12-month PE ratio is 17.46, while the earnings-per-share (ttm) stands at $1.49. The company has a PEG of 2.10 and a Quick Ratio of 0.29 with the debt-to-equity ratio at 1.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.80% over the week and 2.01% over the month.
Analysts forecast that NiSource Inc (NI) will achieve an EPS of $0.57 for the current quarter, $0.84 for the next quarter and $1.7 for 2024. The lowest estimate earnings-per-share for the quarter is $0.5 while analysts give the company a high EPS estimate of $0.74. Comparatively, EPS for the current quarter was $0.5 a year ago. Earnings per share for the fiscal year are expected to increase by 7.84%, and 7.05% over the next financial year. EPS should shrink at an annualized rate of 8.30% over the next five years, compared to 34.21% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate NiSource Inc (NI) as a “Strong Buy” at a consensus score of 1.08. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 0 of the 12 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NI, a number of firms have released research notes about the stock. Ladenburg Thalmann stated their Buy rating for the stock in a research note on October 06, 2023, with the firm’s price target at $25.
