NiSource Inc. [NYSE: NI] stock went on a downward path that fall over -5.02% on Monday, amounting to a one-week price decrease of less than -10.14%. The company report on June 10, 2022 that NISOURCE CLOSES ON INAUGURAL GREEN BOND OFFERING.
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NiSource Inc. (NYSE: NI) (“NiSource”) closed today on its first ever Green Bond issuance, raising $350 million that will be used to finance the acquisition of eligible renewable energy projects located in Indiana. The 30-year senior, unsecured notes priced at 99.614% of the aggregate principal amount, with a coupon rate of 5.00%. The notes will accrue interest payable semi-annually in arrears on June 15 and December 15 of each year, beginning December 15, 2022.
NiSource intends to disburse an amount equal to the net proceeds of the notes to finance, in whole or in part, the acquisition of its 302-megawatt Indiana Crossroads Wind project and 102-megawatt Rosewater Wind project from the project developer.
Over the last 12 months, NI stock rose by 9.64%. The one-year NiSource Inc. stock forecast points to a potential upside of 11.8. The average equity rating for NI stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $11.65 billion, with 406.00 million shares outstanding and 404.35 million shares in the current float. Compared to the average trading volume of 4.29M shares, NI stock reached a trading volume of 7235868 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $32.36 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.
Credit Suisse have made an estimate for NiSource Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, UBS raised their target price from $29 to $31. The new note on the price target was released on February 15, 2022, representing the official price target for NiSource Inc. stock. Previously, the target price had yet another raise to $30, while Evercore ISI analysts kept a Outperform rating on NI stock. On October 13, 2021, analysts increased their price target for NI shares from 27 to 29.
The Average True Range (ATR) for NiSource Inc. is set at 0.69, with the Price to Sales ratio for NI stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 2.05, with the Price to Cash per share for the same quarter was set at 0.28. Price to Free Cash Flow for NI in the course of the last twelve months was 25.84 with Quick ratio for the last quarter at 0.60.
NI Stock Performance Analysis:
NiSource Inc. [NI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.14. With this latest performance, NI shares dropped by -3.61% in over the last four-week period, additionally plugging by 10.07% over the last 6 months – not to mention a rise of 9.64% 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 28.36, with the RSI for the last a single of trading hit 19.76, and the three-weeks RSI is set at 34.28 for NiSource Inc. [NI]. The present Moving Average for the last 50 days of trading for this stock 30.80, while it was recorded at 30.32 for the last single week of trading, and 27.77 for the last 200 days.
Insight into NiSource Inc. Fundamentals:
NiSource Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.
NI Stock EPS
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 7.18%.
NiSource Inc. [NI] Insider Position Details
There are presently around $11,514 million, or 95.40% of NI stock, in the hands of institutional investors. The top three institutional holders of NI stocks are: VANGUARD GROUP INC with ownership of 52,613,623, which is approximately 10.859% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 37,399,115 shares of the stock with an approximate value of $1.12 billion in NI stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $906.75 million in NI stock with ownership of nearly 59.325% of the company’s market capitalization.
278 institutional holders increased their position in NiSource Inc. [NYSE:NI] by around 46,422,135 shares. Additionally, 243 investors decreased positions by around 44,411,925 shares, while 83 investors held positions by with 292,311,588 shares. The mentioned changes placed institutional holdings at 383,145,648 shares, according to the latest SEC report filing. NI stock had 86 new institutional investments in for a total of 4,409,452 shares, while 64 institutional investors sold positions of 4,442,170 shares during the same period.