Bank of Nova Scotia Makes New $24.52 Million Investment in NiSource, Inc $NI

Key Points

• Bank of Nova Scotia acquired 515,756 NiSource shares worth approximately $24.5 million during the second quarter, giving it a 0.11% stake. Institutional investors collectively own 91.64% of the utility company.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $49.82. NiSource reported quarterly EPS of $0.16, matching estimates, while revenue of $1.34 billion exceeded expectations.
• NiSource declared a quarterly dividend of $0.30 per share, equivalent to $1.20 annually and a 3.0% yield. The company guided to fiscal 2026 EPS of $2.02–$2.07, while an executive vice president sold 37,509 shares in August.

Bank of Nova Scotia purchased a new position in shares of NiSource, Inc (NYSE:NI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 515,756 shares of the utilities provider's stock, valued at approximately $24,524,000. Bank of Nova Scotia owned 0.11% of NiSource at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Compass Financial Management LLC purchased a new stake in shares of NiSource during the 2nd quarter valued at approximately $26,000. Strive Financial Group LLC purchased a new position in shares of NiSource during the fourth quarter worth about $26,000. Zions Bancorporation National Association UT increased its stake in 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 acquiring an additional 330 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in NiSource during the fourth quarter valued at approximately $27,000. Finally, DV Equities LLC bought a new position in shares of NiSource during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NI shares. Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Wells Fargo & Company boosted their target price on shares of NiSource from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Royal Bank Of Canada assumed coverage on shares of NiSource in a research note on Wednesday, July 1st. They set an "outperform" rating and a $52.00 price objective for the company. LADENBURG THALM/SH SH decreased their price objective on shares of NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a report on Monday, August 17th. Finally, Barclays decreased their price target on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.82.

NiSource Trading Up 0.0%

NI stock opened at $40.63 on Monday. NiSource, Inc has a fifty-two week low of $38.45 and a fifty-two week high of $49.21. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. The firm has a fifty day moving average price of $45.46 and a 200 day moving average price of $46.27. The firm has a market cap of $19.48 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates 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 company earned $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 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. NiSource's dividend payout ratio (DPR) is presently 63.83%.

Insider Buying and Selling at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company's stock.

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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