Bank of New York Mellon Corp Has $135.61 Million Stake in NiSource, Inc $NI

Key Points

• Bank of New York Mellon reduced its NiSource stake by 15% in the fourth quarter, but still held 3.25 million shares worth about $135.6 million.
• NiSource has seen mixed analyst sentiment: several firms maintained or raised targets around $49 to $52, while Wall Street Zen downgraded the stock to sell. Overall, analysts still rate it a Moderate Buy with an average target of $50.33.
• The company reported quarterly EPS of $1.06, matching estimates, and declared a quarterly dividend of $0.30 per share, equal to an annualized yield of about 2.6%.

Bank of New York Mellon Corp trimmed its holdings in NiSource, Inc (NYSE:NI - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,247,456 shares of the utilities provider's stock after selling 575,302 shares during the period. Bank of New York Mellon Corp owned 0.68% of NiSource worth $135,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NI. NewEdge Advisors LLC raised its position in NiSource by 60.1% during the first quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider's stock valued at $1,223,000 after purchasing an additional 11,452 shares in the last quarter. Woodline Partners LP raised its position in NiSource by 41.6% during 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 in the last quarter. Acadian Asset Management LLC acquired a new position in NiSource during the first quarter valued at approximately $105,000. Bank of Nova Scotia raised its position in NiSource by 0.5% during 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 in the last quarter. Finally, AXA S.A. acquired a new position in NiSource during the second quarter valued at approximately $1,054,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Melanie B. Berman sold 15,000 shares of the company's 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 transaction, the executive vice president owned 35,990 shares in the company, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melody Birmingham sold 2,500 shares of the company'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 transaction, the executive vice president owned 116,036 shares in the company, valued at $5,503,587.48. This represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,500 shares of company stock worth $1,305,675 in the last ninety days. Insiders own 0.37% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on NI shares. Evercore set a $52.00 price objective on shares of NiSource in a research report on Monday, May 11th. Wall Street Zen cut shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. KeyCorp assumed coverage on shares of NiSource in a research note on Tuesday, March 31st. They set an "overweight" rating and a $52.00 target price on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $51.00 target price on shares of NiSource in a research note on Monday, April 20th. Finally, Citigroup boosted their target price on shares of NiSource from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $50.33.

NiSource Stock Performance

Shares of NiSource stock opened at $46.60 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30. NiSource, Inc has a twelve month low of $38.45 and a twelve month high of $48.98. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 3.72 and a beta of 0.54. The company's fifty day moving average is $47.22 and its 200 day moving average is $45.09.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. NiSource had a net margin of 14.15% and a return on equity of 8.31%. The company had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Sell-side analysts forecast that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. NiSource's dividend payout ratio is 59.70%.

NiSource Company 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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