NiSource Inc [NYSE: NI] gained 2.32% or 0.59 points to close at $25.97 with a heavy trading volume of 5377134 shares. The company report on February 9, 2024 at 4:15 PM that NiSource Inc. Announces Redemption of All Depositary Shares Representing Interests in Its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock and Series B-1 Preferred Stock.
NiSource Inc. (NYSE: NI) (“NiSource”) announced today that it will redeem all outstanding shares of its 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, liquidation preference $25,000 per share (the “Series B Preferred Stock”) and Series B-1 Preferred Stock, par value $0.01 per share, liquidation preference $0.01 per share (the “Series B-1 Preferred Stock”), and the corresponding depositary shares representing interests in the outstanding shares of the Series B Preferred Stock and the Series B-1 Preferred Stock (the “Depositary Shares”), on March 15, 2024 (the “Redemption Date”).
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All 20,000,000 Depositary Shares (NYSE: NI PR B) (CUSIP No. 65473P 881), each representing a 1/1,000th ownership interest in one share of the Series B Preferred Stock and a 1/1,000th ownership interest in one share of the Series B-1 Preferred Stock, will be redeemed on the Redemption Date, simultaneously with the redemption of the Series B Preferred Stock and the Series B-1 Preferred Stock, at a redemption price of $25.00001 per Depositary Share.
The daily chart for NI points out that the company has recorded -0.95% loss over the past six months.
If we look at the average trading volume of 4.55M shares, NI reached to a volume of 5377134 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $29.27 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 1.21. 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.
Barclays have made an estimate for NiSource Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 22, 2024.
The Average True Range (ATR) for NiSource Inc is set at 0.49, 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 1.77, with the Price to Cash per share for the same quarter was set at 0.24.
Trading performance analysis for NI stock
NiSource Inc [NI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.63. With this latest performance, NI shares gained by 0.12% in over the last four-week period, additionally sinking by -0.95% over the last 6 months – not to mention a drop of -3.56% 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 53.16, with the RSI for the last a single of trading hit 57.97, and the three-weeks RSI is set at 51.22 for NiSource Inc [NI]. The present Moving Average for the last 50 days of trading for this stock 26.15, while it was recorded at 25.50 for the last single week of trading, and 26.53 for the last 200 days.
NiSource Inc [NI]: A deeper dive into fundamental analysis
NiSource Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.29 and a Current Ratio set at 0.41.
NiSource Inc [NI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NiSource Inc posted 0.5/share EPS, while the average EPS was predicted by analysts to be reported at 0.48/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.20%. 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 8.30%.
An analysis of Institutional ownership at NiSource Inc [NI]
The top three institutional holders of NI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NI stock with ownership which is approximately 5.8325%.
