Downgrade Alert for NiSource (NI)
NiSource (NYSE:NI) was downgraded from Hold to Sell at Evercore ISI today. The stock closed yesterday at $26.65 on volume of 3.0 million shares, above average daily volume of 2.5 million.
Over the past year, NiSource has traded in a range of $16.04 to $26.94 and closed yesterday at $26.65, 66% above that low. The 200-day and 50-day moving averages have moved 0.64% higher and 0.50% higher over the past week, respectively.
NiSource Inc. is an energy holding company. The Company's subsidiaries provide natural gas, electricity and other products and services to customers located within a corridor that runs from the Gulf Coast through the Midwest to New England.
Based on a current price of $26.65, NiSource is currently 31.2% above its average consensus analyst price target of $18.33. NiSource shares have support at the 50-day moving average (MA) of $22.90 and additional support at the 200-day MA of $19.87.
SmarTrend recommended that subscribers consider buying shares of NiSource on September 25th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.90. Since that recommendation, shares of NiSource have risen 49.6%. We continue to monitor NI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades NiSource