NiSource Inc. (NI) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
NiSource Inc. (NI) is a prominent energy holding company based in Merrillville, Indiana, operating primarily within the regulated natural gas and electric utility sectors in the United States. With a rich history dating back to 1847, NiSource serves approximately 3.3 million customers through its extensive network of pipelines across Indiana, Ohio, and Pennsylvania. The company divides its operations into two main segments: Gas Distribution Operations and Electric Operations, catering to nearly 0.5 million electricity customers while also engaging in wholesale electric and transmission transactions. With total revenue of approximately $5.24 billion, NiSource demonstrates strong market positioning and operational efficiency in the utilities industry.
Investment Analysis
The outlook for NiSource’s stock remains bullish, with analysts recommending a “buy.” The current trading price stands at $34.08, which is solidly positioned within its trading range and near its 52-week high of $34.49. Analysts have set a target high price at $39.00, indicating significant upside potential. The target mean price is slightly above the current trading price at $34.16, reflecting modest growth expectations in the near term.
Furthermore, the company’s total share count is approximately 448.5 million, with a modest short interest of about 3.68% of its float. This suggests that despite some investors wagering against the stock, the general sentiment among the majority leans towards confidence in the company’s performance.
Stock Performance and Outlook
In the past year, NiSource has shown considerable resilience, with a low of $22.86 and high of $34.49. The fifty-day moving average is currently at $32.11, indicating the stock has gained upwards momentum, surpassing this average. The recommendation from twelve analysts reflects a collective positive sentiment, with a median price estimate slightly higher at $34.50. Investors should closely monitor key price levels, as the stock’s proximity to its high presents potential resistance while the moving average provides a baseline for short-term evaluations. With the strong financial foundation and positive outlook, NiSource Inc. presents a compelling opportunity within the regulated gas segment of the utilities sector.
| Metric | Value |
|---|---|
| Market Cap | $15.3b |
| Total Debt | $13.5b |
| Total Cash | $101.2m |
| Shares Outstanding | 448.5m |
| Float Shares | 446.8m |
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