94,384 Shares in NiSource, Inc $NI Purchased by Cibc World Market Inc.

Key Points

• CIBC World Markets acquired 94,384 NiSource shares in the second quarter, valued at approximately $4.49 million. Institutional investors collectively own 91.64% of the utility company.
• Wall Street maintains a favorable view of NiSource, with ten analysts rating it Buy and two Hold; the stock has a consensus price target of $49.82 versus its reported opening price of $40.71.
• NiSource matched quarterly earnings expectations at $0.16 per share and reported $1.34 billion in revenue. The company also declared a quarterly dividend of $0.30 per share, representing a 2.9% annualized yield.

Cibc World Market Inc. acquired a new stake in NiSource, Inc (NYSE:NI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 94,384 shares of the utilities provider's stock, valued at approximately $4,488,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in shares of NiSource by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider's stock worth $1,223,000 after acquiring an additional 11,452 shares during the last quarter. Woodline Partners LP increased its holdings 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 last quarter. Acadian Asset Management LLC acquired a new position in shares of NiSource in the first quarter valued at $105,000. Bank of Nova Scotia raised its position in shares of 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 period. Finally, AXA S.A. acquired a new stake in shares of NiSource during the 2nd quarter worth about $1,054,000. 91.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NI has been the subject of a number of research analyst reports. Barclays reduced their price objective on NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Wells Fargo & Company upped their price objective on NiSource from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Evercore set a $52.00 price objective on NiSource in a research report on Monday, May 11th. Royal Bank Of Canada began coverage on shares of NiSource in a research report on Wednesday, July 1st. They issued an "outperform" rating and a $52.00 target price for the company. Finally, KeyCorp lowered their price target on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, NiSource has an average rating of "Moderate Buy" and a consensus price target of $49.82.

Insider Buying and Selling

In other news, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 78,527 shares of the company's stock, valued at approximately $3,329,544.80. This represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

NiSource Stock Down 0.3%

NI stock opened at $40.71 on Wednesday. NiSource, Inc has a 52 week low of $38.45 and a 52 week high of $49.21. The business has a 50-day simple moving average of $45.19 and a 200 day simple moving average of $46.22. 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 company has a market cap of $19.52 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 3.04 and a beta of 0.55.

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

NiSource Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, October 30th. NiSource's payout ratio is currently 63.83%.

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.

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