NiSource Inc [NI] Revenue clocked in at $5.51 billion, down -2.64% YTD: What’s Next?

NiSource Inc [NYSE: NI] price plunged by -0.65 percent to reach at -$0.17. The company report on February 22, 2024 at 7:30 AM that NiSource Announces Two-Year $900 Million At-The-Market (ATM) Equity Issuance Program.

NiSource Inc. (NYSE: NI) (“NiSource”) announced today 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 gross sales price of up to $900 million through December 31, 2025.

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NiSource has entered into separate equity distribution agreements with each of Barclays Capital Inc., BMO Capital Markets Corp., BofA Securities, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. 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 offered and sold by any method or payment permitted by law to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”), including by means of ordinary brokers’ transactions on the New York Stock Exchange, the existing trading market for shares of NiSource’s common stock, or otherwise at market prices prevailing at the time of sale, or sales made to or through a market maker or through an electronic communications network.

The one-year NI stock forecast points to a potential upside of 13.26. The average equity rating for NI stock is currently 1.38, 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 $29.80 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 1.38. 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. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on October 06, 2023, representing the official price target for NiSource Inc stock. Previously, the target price had yet another raise to $31, while UBS analysts kept a Buy rating on NI stock.

The Average True Range (ATR) for NiSource Inc is set at 0.47, with the Price to Sales ratio for NI stock in the period of the last 12 months amounting to 2.10. The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 5.10.

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 -1.52. With this latest performance, NI shares dropped by -0.92% in over the last four-week period, additionally sinking by -2.82% over the last 6 months – not to mention a drop of -5.97% 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 49.98, with the RSI for the last a single of trading hit 50.44, and the three-weeks RSI is set at 49.54 for NiSource Inc [NI]. The present Moving Average for the last 50 days of trading for this stock 26.07, while it was recorded at 25.95 for the last single week of trading, and 26.44 for the last 200 days.

Insight into NiSource Inc Fundamentals:

NiSource Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.76 and a Current Ratio set at 0.85.

NI Stock EPS

With the latest financial reports released by the company, NiSource Inc posted 0.77/share EPS, while the average EPS was predicted by analysts to be reported at 0.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.70%. 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 7.30%.

NiSource Inc [NI] Institutonal Ownership Details

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%.