NiSource Inc. (NYSE: NI) shares slid back in value Wednesday Nov 30 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at US Capital Advisors upgraded shares of NiSource Inc. (NYSE: NI) from Hold to Buy today. US Capital Advisors currently has a rating of Buy on the shares. The one-year price target of $23.92 is higher than the opening price of $22.18, causing a fair amount of other analysts to report on the stock recently. Looking back over the last 52 weeks, NiSource Inc. stock has a high of $26.94. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
Shares of NiSource Inc. (NYSE: NI) opened at $22.18 on Tuesday trading between $22.01 and $22.27, and last traded at $22.20, which is a dip of $0.17 per share or -0.76% over the previous closing price.
NiSource Inc. (NYSE: NI) now has a market cap of 7.16B.
NiSource Inc. (NYSE: NI) Average Daily Trading Volume
345,410 shares traded hands yesterday, below the average, out of a total float 320,994,000. Momentum traders often use swings in trading volume to pinpoint substantial volume accumulation or distribution by institutional investors, so trading volume is likely to increase in the next few days.
As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure 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 identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, NiSource Inc. (NYSE: NI) now has a 50-day MA of $22.31 and 200-day MA of $24.17. It has traded in a 52-week range between $18.60 – 26.94 and today’s last price is 17.59%% lower than the 52 week high of $26.94.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have increased their earnings by at least 25% for 3 consecutive years.
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