NiSource Inc. [NI] stock Downgrade by Goldman analyst, price target now $25

NiSource Inc. [NYSE: NI] closed the trading session at $21.86 on 03/05/21. The day’s price range saw the stock hit a low of $21.51, while the highest price level was $21.98. The company report on February 22, 2021 that NiSource Announces $750 Million At-The-Market (ATM) Equity Issuance Program.

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NiSource Inc. (NYSE: NI) (“NiSource”) announced that it has established an “at-the-market” (“ATM”) equity offering program under which it may sell shares of its common stock having an aggregate sales price of up to $750 million.

NiSource has entered into separate equity distribution agreements with each of Barclays Capital Inc., J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc., Mizuho Securities USA LLC, Morgan Stanley and Wells Fargo Securities, LLC in their respective capacities as sales agents and as forward sellers (collectively, the “Agents”). Pursuant to these agreements, sales of shares of NiSource’s common stock may be made in transactions that are deemed to be “at-the-market” offerings, including sales made by means of ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale or as agreed to with the applicable Agent.

The stocks have a year to date performance of -4.71 percent and weekly performance of 1.20 percent. The stock has been moved at -1.84 percent over the last six months. The stock has performed -1.80 percent around the most recent 30 days and changed -11.21 percent over the most recent 3-months.

If compared to the average trading volume of 3.16M shares, NI reached to a volume of 4956836 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about NiSource Inc. [NI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NI shares is $25.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NI stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for NiSource Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 29, 2021. While these analysts kept the previous recommendation, Barclays raised their target price from $25 to $29. The new note on the price target was released on November 18, 2020, representing the official price target for NiSource Inc. stock. Previously, the target price had yet another raise to $23, while BofA Securities analysts kept a Buy rating on NI stock.

The Average True Range (ATR) for NiSource Inc. is set at 0.56, with the Price to Sales ratio for NI stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 1.73, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for NI in the course of the last twelve months was 13.08 with Quick ratio for the last quarter at 0.60.

NI stock trade performance evaluation

NiSource Inc. [NI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.20. With this latest performance, NI shares dropped by -1.80% in over the last four-week period, additionally sinking by -1.84% over the last 6 months – not to mention a drop of -26.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NI stock in for the last two-week period is set at 45.43, with the RSI for the last a single of trading hit 45.02, and the three-weeks RSI is set at 45.97 for NiSource Inc. [NI]. The present Moving Average for the last 50 days of trading for this stock 22.24, while it was recorded at 21.74 for the last single week of trading, and 23.11 for the last 200 days.

NiSource Inc. [NI]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and NiSource Inc. [NI] shares currently have an operating margin of +20.54 and a Gross Margin at +60.80. NiSource Inc.’s Net Margin is presently recorded at -0.38.

Return on Total Capital for NI is now 6.14, given the latest momentum, and Return on Invested Capital for the company is -0.12. Return on Equity for this stock declined to -0.30, with Return on Assets sitting at -0.07. When it comes to the capital structure of this company, NiSource Inc. [NI] has a Total Debt to Total Equity ratio set at 170.13. Additionally, NI Total Debt to Total Capital is recorded at 62.98, with Total Debt to Total Assets ending up at 42.11. Long-Term Debt to Equity for the company is recorded at 189.85, with the Long-Term Debt to Total Capital now at 59.53.

Reflecting on the efficiency of the workforce at the company, NiSource Inc. [NI] managed to generate an average of -$2,382 per employee. Receivables Turnover for the company is 5.41 with a Total Asset Turnover recorded at a value of 0.20.NiSource Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

Earnings per share (EPS) analysis for NiSource Inc. [NI] stock

With the latest financial reports released by the company, NiSource Inc. posted 0.76/share EPS, while the average EPS was predicted by analysts to be reported at 0.8/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NiSource Inc. go to 4.37%.

NiSource Inc. [NI]: Insider Ownership positions

There are presently around $7,913 million, or 94.50% of NI stock, in the hands of institutional investors. The top three institutional holders of NI stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 60,249,172, which is approximately -9.038% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 43,494,108 shares of the stock with an approximate value of $950.78 million in NI stocks shares; and BLACKROCK INC., currently with $915.49 million in NI stock with ownership of nearly 12.107% of the company’s market capitalization.

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Positions in NiSource Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 214 institutional holders increased their position in NiSource Inc. [NYSE:NI] by around 35,944,692 shares. Additionally, 224 investors decreased positions by around 33,584,951 shares, while 87 investors held positions by with 292,432,881 shares. The mentioned changes placed institutional holdings at 361,962,524 shares, according to the latest SEC report filing. NI stock had 75 new institutional investments in for a total of 8,994,599 shares, while 53 institutional investors sold positions of 8,985,680 shares during the same period.

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