NiSource Inc. (NYSE: NI) shares rose in value Wednesday Dec 14 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. equities traded mostly lower on Wednesday as investors awaited the Federal Reserve’s latest decision regarding monetary policy.
The Dow Jones industrial average traded 35 points lower, with Goldman Sachs contributing the most losses. The S&P 500 traded 0.1 percent lower, with financials leading decliners. The Nasdaq composite, meanwhile, held flat.
Analysts at Citigroup Inc. upgraded shares of NiSource Inc. (NYSE: NI) from Neutral to Buy today. Citigroup Inc. currently has a rating of Buy on the shares. The one-year price target of $23.92 is higher than the opening price of $22.36, resulting a fair amount of other analysts to report on the company recently. Looking back over the last year, NiSource Inc. stock has a high of $26.94. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
NiSource Inc. (NYSE: NI) shares last traded at $22.30, which represents a jump of $0.20 or 0.90% compared to the previous closing price. Opening at $22.36, they fluctuated from $22.28 and $22.50 throughout the day.
NiSource Inc. (NYSE: NI) currently has a market cap of 7.20B.
NiSource Inc. (NYSE: NI) Average Daily Trading Volume
273,738 shares crossed the trading desk yesterday, lower than normal, out of a total float 320,998,000. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to determine large volume accumulation or dissemination by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive cue to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
NiSource Inc. (NYSE: NI) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for NiSource Inc. (NYSE: NI) have ranged from $18.60 – 26.94, and the stock now has a 50-day MA of $22.01 and 200-day MA of $24.01. Today’s last price is 17.22%% lower than the 52 week high of $26.94.
Earnings growth is a critical factor to research when buying stocks and investors identify companies that have grown their earnings at least 25% or more over 3 consecutive years.
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