71,984 Shares in NiSource, Inc $NI Acquired by Summit Global Investments

Key Points

• Summit Global Investments acquired 71,984 NiSource shares during the second quarter, worth approximately $3.4 million. Institutional investors and hedge funds collectively own 91.64% of the utility company.
• NiSource reported quarterly EPS of $0.16, in line with analyst estimates, while revenue of $1.34 billion exceeded the $1.15 billion consensus forecast. The company reaffirmed fiscal 2026 EPS guidance of $2.02–$2.07.
• NiSource declared a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 payout and a 2.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $49.70.

Summit Global Investments purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,984 shares of the utilities provider's stock, valued at approximately $3,423,000.

Several other hedge funds have also added to or reduced their stakes in NI. Zions Bancorporation National Association UT increased its holdings in shares of NiSource by 113.8% in the fourth quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 330 shares during the last quarter. Strive Financial Group LLC acquired a new stake in shares of NiSource during the 4th quarter worth about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of NiSource during the 4th quarter worth about $27,000. DV Equities LLC bought a new stake in shares of NiSource during the 4th quarter worth about $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of NiSource during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Stock Up 0.9%

NYSE NI opened at $42.47 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The company has a market cap of $20.37 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.13 and a beta of 0.55. The company has a 50 day moving average of $45.95 and a 200-day moving average of $46.35. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $49.21.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly 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 return on equity of 7.95% and a net margin of 13.20%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business posted $0.22 earnings per share. 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 fiscal year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be given a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. NiSource's dividend payout ratio (DPR) is presently 63.83%.

Analyst Ratings Changes

Several research firms have weighed in on NI. Citigroup increased their price target on shares of NiSource from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Barclays decreased their target price on NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada initiated coverage on NiSource in a report on Wednesday, July 1st. They set an "outperform" rating and a $52.00 price target for the company. Finally, KeyCorp reduced their price target on NiSource from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, NiSource currently has an average rating of "Moderate Buy" and an average price target of $49.70.

Insiders Place Their Bets

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $47.68, for a total transaction of $715,200.00. Following the sale, the executive vice president directly owned 35,990 shares in the company, valued at $1,716,003.20. This represents a 29.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Melody Birmingham sold 2,500 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $47.43, for a total transaction of $118,575.00. Following the completion of the transaction, the executive vice president directly owned 116,036 shares in the company, valued at approximately $5,503,587.48. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is currently owned by company insiders.

NiSource 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source