Jennison Associates LLC has recently announced that it has increased stake in NiSource Inc (NYSE:NI) by 0.30%. After grabbing 13.11 million shares, the institutional investor is now in possession of 39374.0 shares of the Utilities Company. The new investment brought the stake of investor firm to 3.17% having worth around $329.88 million. Moreover, Geode Capital Management LLC increased its share by 0.18 million to have a control over 9.16 million shares. And Invesco Capital Management LLC raised its holdings to 0.31 million shares by acquiring 7.12 million shares or 1.72% of the stake.
NiSource Inc (NI) concluded trading on 12/13/23 at a closing price of $27.03, with 5.8 million shares of worth about $156.69 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.48% during that period and on Wednesday the price saw a gain of about 3.25%. Currently the company’s common shares owned by public are about 447.31M shares, out of which, 445.62M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the NI stock and their offered price forecasts bring an average price target of $28.70. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $31.00 and could fall to a lowest price of $27.00. The stock’s current price level is 5.82% above of average price target set by the analysts, while a rise to estimated low would result in loss of -0.11% for the stock. However, touching the estimated high of $31.00 would mean a gain of 12.81% 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 63 times over the past 12 months. They bought 344,164 shares in 37 of the transactions. In 26 selling transactions, insiders dumped 101,707 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in NiSource Inc Vanguard Total Stock Market ETF is currently holding 12.86 million shares of worth totaling $323.68 million. The company recently came buying 13501.0 shares which brought its stake up to 3.11% of the company’s outstanding shares. Vanguard 500 Index Fund bought 43873.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 9.98 million shares with the mutual fund that have a worth of about $251.01 million. Vanguard Mid Cap Index Fund, after buying 9.38 million shares, have now control over 2.27% of the stake in the company. It holds 18525.0 shares of worth $236.0 million.
NiSource Inc (NYSE: NI) started trading at $26.25, above $0.07 from concluding price of the previous day. Stock saw a price change of 2.35% in past 5 days and over the past one month there was a price change of 8.95%. Year-to-date (YTD), NI shares are showing a performance of -1.42% which decreased to -3.74% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.86 but also hit the highest price of $28.95 during that period. The average intraday trading volume for NiSource Inc shares is 6.30 million. The stock is currently trading 3.52% above its 20-day simple moving average (SMA20), while that difference is up 5.69% for SMA50 and it goes to 0.46% higher than SMA200.
Jennison Associates LLC acquired 13.11 million shares of NiSource Inc having value of about $329.88 million. Data submitted at the U.S SEC by Jennison Associates LLC revealed that the firm now holds 39374.0 shares in the company valued at close to $1064279.22, or have control over 0.30% stake in the company. NiSource Inc (NYSE: NI) currently have 447.31M outstanding shares and institutions hold larger chunk of about 88.48% of that. Holding of mutual funds in the company is about 45.66% while other institutional holders and individual stake holders have control over 50.99% and 1.72% of the stake respectively.
The stock has a current market capitalization of $12.09B and its 3Y-monthly beta is at 0.50. PE ratio of stock for trailing 12 months is 18.10, while it has posted earnings per share of $1.49 in the same period. Its PEG reads 2.18 and has Quick Ratio of 0.29 while making debt-to-equity ratio of 1.84. 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 1.88% while standing at 1.75% over the month.
Analysts are in expectations that NiSource Inc (NI) stock would likely to be making an EPS of $0.56 in the current quarter, while forecast for next quarter EPS is $0.84 and it is $1.71 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.5 which is $0.74 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 $0.5 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 8.00% while it is estimated to increase by 7.59% in next year. EPS is likely to shrink at an annualized rate of 8.30% for next 5-years, compared to annual growth of 34.21% made by the stock over the past 5-years.
Analysts at 13 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 1.15. Out of those 13 Wall Street analysts, 11 recommended a “Buy” rating, while 0 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 Ladenburg Thalmann on October 06, 2023 offering a Buy rating for the stock and assigned a target price of $25 to it.
