NewEdge Advisors LLC boosted its position in NiSource, Inc (NYSE:NI – Free Report) by 15.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,070,157 shares of the utilities provider’s stock after acquiring an additional 140,144 shares during the period. NewEdge Advisors LLC’s holdings in NiSource were worth $50,886,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Woodline Partners LP raised its position 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 valued at $1,592,000 after purchasing an additional 11,671 shares during the period. Acadian Asset Management LLC bought a new stake in NiSource during the 1st quarter valued at $105,000. Bank of Nova Scotia lifted its position in shares of NiSource by 0.5% during the second quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock worth $1,986,000 after acquiring an additional 266 shares in the last quarter. AXA S.A. purchased a new stake in shares of NiSource during the second quarter worth $1,054,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of NiSource by 27.6% in the second quarter. Squarepoint Ops LLC now owns 207,409 shares of the utilities provider’s stock worth $8,367,000 after acquiring an additional 44,822 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.
NiSource Price Performance
Shares of NYSE NI opened at $41.70 on Thursday. The firm has a market capitalization of $20.00 billion, a P/E ratio of 22.18, a P/E/G ratio of 3.12 and a beta of 0.54. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.31. The stock’s 50-day simple moving average is $43.81 and its two-hundred day simple moving average is $45.91. NiSource, Inc has a twelve month low of $39.29 and a twelve month high of $49.21.
NiSource Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 63.83%.
Analyst Ratings Changes
Several brokerages have recently weighed in on NI. KeyCorp reduced their price target on NiSource from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. BMO Capital Markets dropped their price objective on NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Royal Bank Of Canada started coverage on NiSource in a report on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price for the company. Barclays decreased their price target on NiSource from $51.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Finally, Mizuho lowered their price target on shares of NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, August 26th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, NiSource presently has a consensus rating of “Moderate Buy” and an average target price of $49.64.
Check Out Our Latest Stock Report on NiSource
Insider Transactions at NiSource
In other NiSource news, EVP Melody Birmingham sold 37,509 shares of NiSource stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the completion of the sale, the executive vice president directly owned 78,527 shares in the company, valued at $3,329,544.80. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.
About NiSource
NiSource Inc (NYSE: NI) is a regulated utility company that provides natural gas and electric services to residential, commercial and industrial customers in the United States. Its operations are primarily focused on the distribution, transmission and storage of natural gas, along with electric generation and distribution in Indiana.
Through its Columbia Gas utilities, NiSource serves natural gas customers in Ohio, Pennsylvania, Virginia, Maryland, Massachusetts and Kentucky. Its Northern Indiana Public Service Company (NIPSCO) subsidiary provides natural gas and electric service in northern Indiana.
Featured Articles
- Five stocks we like better than NiSource
- Qualcomm’s Data Center Bet Looks More Real After Amazon’s AI Deal
- GE Aerospace’s $11.75B Deal Puts Howmet Aerospace in Focus
- Casey’s Post-Earnings Drop May Give Investors a Better Entry Into a Quality Retailer
- Sovereign AI: Palantir and Nebius Cut the Cloud Cord
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.
