Sunday, June 26, 2022

A company insider recently sold 19,762 shares of NiSource Inc. [NI]. Should You also Consider to Sale?

In a filing, NiSource Inc. revealed its EVP, CFO and Pres Corp Svcs Brown Donald Eugene unloaded Company’s shares for reported $0.51 million on Aug 20. In the deal valued at $25.68 per share,19,762 shares were sold. As a result of this transaction, Brown Donald Eugene now holds 145,938 shares worth roughly $ 3.94 million.

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Then, Vegas Pablo sold 5,384 shares, generating $132,123 in total proceeds. Upon selling the shares at $24.54, the EVP, COO & President Utilities now owns 101,224 shares.

As this happened, Credit Suisse initiated its NiSource Inc. [NI] rating to a Neutral in a research note published on Tuesday, April 26, 2022; the price target was $32. PT values the company’s stock at a premium of 15.69 to its Tuesday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in mid February from “a Buy” to “a Neutral”. Evercore ISI also remained covering NI and has increased its forecast on January 25, 2022 with a “an Outperform” recommendation from previously “an In-line” rating. Goldman revised its rating on October 13, 2021. It rated NI as “a Buy” which previously was an “a Neutral”.

Price Performance Review of NI

On Tuesday, NiSource Inc. [NYSE:NI] saw its stock jump 1.20% to $26.98. On the same session, the stock had its day’s lowest price of $26.66, but rose to a high of $27.19. Over the last five days, the stock has lost -5.47%. NiSource Inc. shares have fallen nearly -2.28% since the year began. Nevertheless, the stocks have risen 6.26% over the past one year. While a 52-week high of $32.58 was reached on 04/06/22, a 52-week low of $23.65 was recorded on 06/17/22. SMA at 50 days reached $30.32, while 200 days put it at $27.83. A total of 6.85 million shares were traded, compared to the trading of 0.55 million shares in the previous session.

Levels Of Support And Resistance For NI Stock

The 24-hour chart illustrates a support level at 26.70, which if violated will result in even more drops to 26.41. On the upside, there is a resistance level at 27.23. A further resistance level may holdings at 27.47. The Relative Strength Index (RSI) on the 14-day chart is 25.41, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.32%. Stochastics %K at 6.95% indicates the stock is a buying.

NiSource Inc. [NI] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 50,882,170 shares, or roughly 12.54% of the outstanding NI shares. In other words, the investor’s shares have risen by 5,191,300 from its previous 13-F filing of 45690870.0. Additionally, T. Rowe Price Associates, Inc. increased 59.33% of its stake after which the total value it holdings stand at $948,997,932, while BlackRock Fund Advisors reduced -6.09% of its stake to hold $888.4 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 1,970,696 shares of NiSource Inc., while RREEF America LLC bought 1,756,620 shares. At present, Geode Capital Management LLC is holding 7,583,663 shares valued at $238.51 million. Invesco Capital Management LLC owned 7,136,319 shares of the company at the time of its most recent 13F filing, worth $224.44 million.

According to FactSet, NiSource Inc.’s share price will average $32.42 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.91 percent from its previous closing price of $26.66. Analysts expect NiSource Inc. stock to reach the higher price of $35.00, while the lowest price estimate is $30.00. However, 14 analysts have rated NI stock as an Overweight in their predictions for 2022.

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