Jefferies Boosts NiSource with a Buy Rating: Key Insights on Market Sentiment

Fintel reports that on October 28, 2024, Jefferies initiated coverage of NiSource (LSE:0K87) with a Buy recommendation.

Analyst Forecast Indicates Modest Growth Opportunity

As of October 22, 2024, analysts set an average one-year price target for NiSource at 36.30 GBX/share. The targets vary, ranging from a low of 30.24 GBX to a high of 40.87 GBX. This average suggests a potential rise of 3.84% from its latest closing price of 34.96 GBX/share.

Check out our leaderboard of companies with the largest price target upsides.

Revenue Projections Show Promising Increase

NiSource’s projected annual revenue stands at 5,914MM, reflecting a notable increase of 12.85%. Additionally, the projected annual non-GAAP EPS is 1.74.

Institutional Investment Trends Highlight Growing Confidence

Currently, 1,353 funds or institutions have reported their positions in NiSource, marking an increase of 23 owners or 1.73% from the previous quarter. The average portfolio weight for all funds dedicated to 0K87 is 0.30%, up by 4.72%. Institutional ownership has also seen an increase of 6.87% over the last three months, totaling 519,262K shares.

Institutional Holdings Show Mixed Activity

Deutsche Bank AG holds 17,953K shares, accounting for 4.00% ownership of the company. However, in its previous filing, it reported owning 18,892K shares, indicating a decrease of 5.23% in its holdings. The firm has cut its portfolio allocation in 0K87 by 80.03% over the last quarter.

The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) owns 14,186K shares, representing 3.16% ownership. This reflects a slight increase of 0.43% from its prior filing, with a portfolio allocation increase of 1.72% over the last quarter.

T. Rowe Price Investment Management holds 13,751K shares, translating to 3.07% ownership. This is an increase of 15.03% from 11,685K shares reported earlier, with a portfolio allocation increase of 26.45% over the last quarter.

The Vanguard 500 Index Fund Investor Shares (VFINX) holds 11,506K shares, or 2.57% ownership, up 9.50% from its earlier position of 10,413K shares, reflecting an 8.95% increase in portfolio allocation over the last quarter.

Geode Capital Management possesses 10,569K shares, representing 2.36% ownership. Previously, it reported 9,639K shares, showing an increase of 8.80%, but it decreased its portfolio allocation by 43.41% over the last quarter.

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This story originally appeared on Fintel.

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