Legal & General Group Plc lowered its position in NiSource, Inc (NYSE:NI – Free Report) by 3.1% in the 4th quarter, Holdings Channel reports. The fund owned 3,935,937 shares of the utilities provider’s stock after selling 127,285 shares during the quarter. Legal & General Group Plc’s holdings in NiSource were worth $164,365,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd bought a new position in NiSource during the 3rd quarter valued at approximately $84,086,000. Magellan Asset Management Ltd increased its holdings in shares of NiSource by 7.5% in the 3rd quarter. Magellan Asset Management Ltd now owns 369,164 shares of the utilities provider’s stock worth $15,985,000 after purchasing an additional 25,721 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of NiSource in the 3rd quarter worth $1,154,000. Capital International Investors increased its holdings in shares of NiSource by 15.1% in the 3rd quarter. Capital International Investors now owns 8,136,157 shares of the utilities provider’s stock worth $352,296,000 after purchasing an additional 1,065,591 shares in the last quarter. Finally, Alkeon Capital Management LLC increased its holdings in shares of NiSource by 21.0% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,100,500 shares of the utilities provider’s stock worth $134,252,000 after purchasing an additional 539,000 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.
Wall Street Analyst Weigh In
NI has been the subject of a number of research analyst reports. Barclays lifted their target price on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Wells Fargo & Company lifted their target price on NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. BMO Capital Markets reissued an “outperform” rating and issued a $51.00 target price on shares of NiSource in a report on Monday, April 20th. Evercore set a $52.00 target price on NiSource in a report on Monday, May 11th. Finally, Weiss Ratings lowered NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.33.
NiSource Stock Performance
NI stock opened at $47.46 on Thursday. The company has a market cap of $22.75 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 3.82 and a beta of 0.57. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $48.98. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56. The stock’s fifty day moving average price is $47.22 and its 200-day moving average price is $44.98.
NiSource (NYSE:NI – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same period last year, the business posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities analysts forecast that NiSource, Inc will post 2.05 earnings per share for the current year.
NiSource Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, July 31st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is 59.70%.
Insiders Place Their Bets
In other news, EVP Melanie B. Berman sold 15,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the transaction, the executive vice president directly owned 35,990 shares in the company, valued at $1,716,003.20. This trade represents a 29.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Melody Birmingham sold 10,000 shares of NiSource stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total value of $471,900.00. Following the transaction, the executive vice president owned 117,899 shares in the company, valued at $5,563,653.81. This trade represents a 7.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 27,500 shares of company stock worth $1,305,675. Company insiders own 0.37% of the company’s stock.
About NiSource
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.
Featured Articles
- Five stocks we like better than NiSource
- Abercrombie Rallies as Strong Q1 Earnings Extend Winning Streak
- TeraWulf Bets on Power Infrastructure to Lead AI Build-Out
- Amazon’s Alexa for Shopping Strengthens an Already Strong Bull Case
- Keysight: The AI and Defense Stock Seeing Big Price Target Boosts
Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI – Free Report).
Receive News & Ratings for NiSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NiSource and related companies with MarketBeat.com's FREE daily email newsletter.
-plc-logo-1200x675.png){kind=logo}
