3,628,102 Shares in NiSource, Inc $NI Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 3.63 million NiSource shares in the second quarter, valued at approximately $172.5 million, giving it a 0.76% stake. Institutional investors and hedge funds collectively own 91.64% of the utility.
• NiSource reported quarterly EPS of $0.16, in line with analyst expectations, while revenue of $1.34 billion exceeded estimates. The company maintained fiscal 2026 EPS guidance of $2.02–$2.07.
• NiSource declared a quarterly dividend of $0.30 per share, equal to $1.20 annually and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $49.64 versus the reported share price of $40.88.

Bank of America Corp DE purchased a new position in shares of NiSource, Inc (NYSE:NI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,628,102 shares of the utilities provider's stock, valued at approximately $172,516,000. Bank of America Corp DE owned 0.76% of NiSource at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Man Group plc purchased a new position in NiSource during the second quarter worth about $3,098,000. Jupiter Topco LLC acquired a new stake in NiSource during the second quarter valued at approximately $2,432,000. Hsbc Holdings PLC acquired a new position in NiSource in the second quarter worth $36,746,000. Canada Pension Plan Investment Board bought a new position in NiSource during the 2nd quarter worth $35,337,000. Finally, Legal & General Group Plc bought a new position in NiSource in the 2nd quarter worth approximately $179,838,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Melody Birmingham sold 37,509 shares of NiSource stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. The trade was a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

NiSource Stock Performance

NI opened at $40.88 on Friday. NiSource, Inc has a 12-month low of $39.33 and a 12-month high of $49.21. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 3.03 and a beta of 0.54. The business has a 50 day moving average of $43.06 and a 200-day moving average of $45.68. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.31.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. NiSource had a net margin of 13.20% and a return on equity of 7.95%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities research analysts expect that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Announces Dividend

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 issued a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a yield of 2.9%. NiSource's dividend payout ratio is presently 63.83%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Mizuho dropped their price target on NiSource from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 26th. BMO Capital Markets decreased their price target on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a research note on Tuesday, July 21st. Barclays cut their price target on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Finally, LADENBURG THALM/SH SH reduced their price objective on NiSource from $51.50 to $51.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.64.

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.

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