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 2.93% valued currently at $348.1 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.
Currently, there are 447.31M common shares owned by the public and among those 445.75M shares have been available to trade.
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Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 253,189 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 99,610 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 13.91 million shares of the company’s stock, all valued at over $369.21 million. The company bought an additional 1.03 million shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard 500 Index Fund bought 13753.0 shares to see its total holdings expand to 10.09 million shares valued at over $267.84 million and representing 2.26% of the shares outstanding. Vanguard Mid Cap Index Fund bought 0.63 million shares to bring its total holdings to over 10.03 million shares at a value of $266.27 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
However, the script later moved the day high at 26.24, up 1.05%. The company’s stock has a 5-day price change of 1.95% and 1.44% over the past three months. NI shares are trading -1.73% year to date (YTD), with the 12-month market performance down to -5.27% lower. 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 5.06 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 -1.03%, -0.69%, and -2.40% respectively.
Institutional ownership of NiSource Inc (NYSE: NI) shares accounts for 88.36% of the company’s 447.31M shares outstanding. Mutual fund holders own 40.02%, while other institutional holders and individual stakeholders account for 48.91% and 1.58% respectively.
It has a market capitalization of $11.67B and a beta (3y monthly) value of 0.48. The stock’s trailing 12-month PE ratio is 17.47, 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 1.73% over the week and 1.70% over the month.
Analysts forecast that NiSource Inc (NI) will achieve an EPS of $Nikola Corporation for the current quarter, $0.80 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $C3.ai, Inc. while analysts give the company a high EPS estimate of $Nike, Inc.. Comparatively, EPS for the current quarter was $Nu Holdings Ltd. a year ago. Earnings per share for the fiscal year are expected to increase by 8.20%, and 7.46% 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.
Looking at the support for the NI, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on January 22, 2024, with the firm’s price target at $28.
