Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of NiSource, Inc (NYSE:NI – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 148,432 shares of the utilities provider’s stock, valued at approximately $7,058,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in shares of NiSource by 60.1% during the first quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider’s stock valued at $1,223,000 after acquiring an additional 11,452 shares in the last quarter. Woodline Partners LP lifted its stake in shares of NiSource by 41.6% in the first quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider’s stock worth $1,592,000 after acquiring an additional 11,671 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of NiSource in the first quarter worth about $105,000. Bank of Nova Scotia boosted its holdings in NiSource by 0.5% in the second quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock valued at $1,986,000 after purchasing an additional 266 shares during the last quarter. Finally, AXA S.A. purchased a new position in NiSource in the second quarter valued at about $1,054,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.
Insider Activity
In related news, EVP Melody Birmingham sold 37,509 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the sale, the executive vice president owned 78,527 shares of the company’s stock, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.
NiSource Price Performance
NiSource (NYSE:NI – Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. NiSource had a net margin of 13.20% and a return on equity of 7.95%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, sell-side analysts anticipate that NiSource, Inc will post 2.05 EPS for the current year.
NiSource Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 30th. NiSource’s dividend payout ratio is presently 63.83%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a report on Tuesday, July 21st. Royal Bank Of Canada initiated coverage on NiSource in a research note on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price for the company. Wall Street Zen downgraded shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. BMO Capital Markets dropped their price target on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Wells Fargo & Company upped their price target on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, NiSource has an average rating of “Moderate Buy” and an average target price of $49.82.
View Our Latest Stock Report on NI
NiSource Company Profile
NiSource, Inc (NYSE: NI) is a publicly traded energy holding company headquartered in Merrillville, Indiana, that primarily owns and operates regulated local gas and electric utilities in the United States. Through its operating subsidiaries, the company delivers natural gas and electricity to residential, commercial and industrial customers and provides the associated distribution and transmission services that keep local energy systems functioning.
The company’s core activities include natural gas distribution, electric transmission and distribution, system operations, maintenance and emergency response.
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