Bank of New York Mellon Corp acquired a new position in NiSource, Inc (NYSE:NI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,086,953 shares of the utilities provider's stock, valued at approximately $146,785,000. Bank of New York Mellon Corp owned 0.64% of NiSource as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in NiSource by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider's stock worth $2,606,180,000 after acquiring an additional 1,032,630 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in NiSource by 19.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider's stock valued at $2,150,818,000 after purchasing an additional 8,240,227 shares in the last quarter. State Street Corp grew its stake in NiSource by 4.5% in the fourth quarter. State Street Corp now owns 26,735,119 shares of the utilities provider's stock valued at $1,116,459,000 after purchasing an additional 1,154,351 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in NiSource by 55,625.2% in the second quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider's stock valued at $680,411,000 after purchasing an additional 16,836,630 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of NiSource by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider's stock valued at $518,301,000 after buying an additional 245,110 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Barclays reduced their price objective on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Citigroup upped their price objective on shares of NiSource from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. LADENBURG THALM/SH SH lowered their target price on shares of NiSource from $51.50 to $51.00 and set a "buy" rating on the stock in a research note on Monday, August 17th. Finally, KeyCorp lowered their price target on NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.82.
Read Our Latest Report on NI
Insider Buying and Selling
In other news, EVP Melody Birmingham sold 37,509 shares of the firm's 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 owned 78,527 shares of the company's stock, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.
NiSource Stock Performance
NI opened at $40.63 on Monday. The stock's 50 day simple moving average is $45.46 and its 200-day simple moving average is $46.27. 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 stock has a market cap of $19.48 billion, a PE ratio of 21.61, a P/E/G ratio of 3.02 and a beta of 0.55. 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 earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.15 billion. NiSource had a return on equity of 7.95% and a net margin of 13.20%.During the same period last year, the business earned $0.22 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 business also recently declared 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 3.0%. The ex-dividend date is Friday, October 30th. NiSource's dividend payout ratio is 63.83%.
NiSource Profile
(
Free Report)
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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