Credit Suisse slashes price target on NiSource Inc. [NI] – find out why.

NiSource Inc. [NYSE: NI] price surged by 3.35 percent to reach at $0.93. The company report on March 24, 2023 that NiSource Closes on Bond Offering.

NiSource Inc. (NYSE: NI) (“NiSource”) closed today on its issuance of $750 million principal amount of notes due March 30, 2028. The 5-year senior, unsecured notes priced at 99.829% of the aggregate principal amount, with a coupon rate of 5.25%. The notes will accrue interest payable semi-annually in arrears on March 30 and September 30 of each year, beginning September 30, 2023.

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The net proceeds from the sale of the notes will be used for general corporate purposes, including to finance capital expenditures, additions to working capital and repayment of existing indebtedness.

A sum of 2992306 shares traded at recent session while its average daily volume was at 3.95M shares. NiSource Inc. shares reached a high of $28.70 and dropped to a low of $27.81 until finishing in the latest session at $28.69.

The one-year NI stock forecast points to a potential upside of 7.12. The average equity rating for NI stock is currently 1.80, trading closer to a bullish pattern in the stock market.

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 $30.89 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 1.80. 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 Outperform, with their previous recommendation back on November 09, 2022. The new note on the price target was released on July 27, 2022, representing the official price target for NiSource Inc. stock. Previously, the target price had yet another raise to $32, while Credit Suisse analysts kept a Neutral rating on NI stock. On February 15, 2022, analysts increased their price target for NI shares from 29 to 31.

The Average True Range (ATR) for NiSource Inc. is set at 0.62, with the Price to Sales ratio for NI stock in the period of the last 12 months amounting to 2.01. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 0.10. Price to Free Cash Flow for NI in the course of the last twelve months was 13.45 with Quick ratio for the last quarter at 0.40.

NI Stock Performance Analysis:

NiSource Inc. [NI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.95. With this latest performance, NI shares gained by 5.05% in over the last four-week period, additionally plugging by 6.65% over the last 6 months – not to mention a drop of -9.55% 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 62.83, with the RSI for the last a single of trading hit 68.86, and the three-weeks RSI is set at 59.48 for NiSource Inc. [NI]. The present Moving Average for the last 50 days of trading for this stock 27.37, while it was recorded at 28.00 for the last single week of trading, and 27.75 for the last 200 days.

Insight into NiSource Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and NiSource Inc. [NI] shares currently have an operating margin of +19.85 and a Gross Margin at +49.90. NiSource Inc.’s Net Margin is presently recorded at +13.74.

Return on Total Capital for NI is now 6.39, given the latest momentum, and Return on Invested Capital for the company is 4.83. Return on Equity for this stock inclined to 11.07, with Return on Assets sitting at 3.03. When it comes to the capital structure of this company, NiSource Inc. [NI] has a Total Debt to Total Equity ratio set at 149.86. Additionally, NI Total Debt to Total Capital is recorded at 59.98, with Total Debt to Total Assets ending up at 40.90. Long-Term Debt to Equity for the company is recorded at 158.49, with the Long-Term Debt to Total Capital now at 50.48.

Reflecting on the efficiency of the workforce at the company, NiSource Inc. [NI] managed to generate an average of $112,983 per employee. Receivables Turnover for the company is 5.58 with a Total Asset Turnover recorded at a value of 0.22.NiSource Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.60.

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 6.70%.

NiSource Inc. [NI] Insider Position Details

There are presently around $10,677 million, or 94.60% of NI stock, in the hands of institutional investors. The top three institutional holders of NI stocks are: VANGUARD GROUP INC with ownership of 52,054,948, which is approximately -0.324% of the company’s market cap and around 0.38% of the total institutional ownership; BLACKROCK INC., holding 41,182,610 shares of the stock with an approximate value of $1.14 billion in NI stocks shares; and STATE STREET CORP, currently with $627.21 million in NI stock with ownership of nearly -0.61% of the company’s market capitalization.

Positions in NiSource Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 317 institutional holders increased their position in NiSource Inc. [NYSE:NI] by around 40,499,320 shares. Additionally, 220 investors decreased positions by around 33,483,578 shares, while 94 investors held positions by with 310,621,365 shares. The mentioned changes placed institutional holdings at 384,604,263 shares, according to the latest SEC report filing. NI stock had 95 new institutional investments in for a total of 9,250,045 shares, while 59 institutional investors sold positions of 5,160,943 shares during the same period.


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