BlackRock Inc. Makes New $2.61 Billion Investment in NiSource, Inc $NI

Key Points

• BlackRock acquired 54.96 million NiSource shares worth approximately $2.61 billion in the second quarter, giving it an estimated 11.46% stake. Institutional investors collectively own 91.64% of the utility company.
• NiSource reported quarterly revenue of $1.34 billion and adjusted earnings of $0.16 per share, matching estimates, and maintained fiscal 2026 EPS guidance of $2.02–$2.07. The company also declared a quarterly dividend of $0.30 per share, representing a 2.9% annualized yield.
• Despite the stock opening at $41.61—below its recent moving averages—analysts retain a “Moderate Buy” consensus, with a consensus price target of $49.82.

BlackRock Inc. bought a new stake in shares of NiSource, Inc (NYSE:NI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,957,602 shares of the utilities provider's stock, valued at approximately $2,613,234,000. BlackRock Inc. owned approximately 11.46% of NiSource as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NI. Deutsche Bank AG purchased a new position in shares of NiSource during the second quarter valued at $574,295,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in NiSource during the 2nd quarter worth about $55,054,000. OneDigital Investment Advisors LLC purchased a new position in NiSource during the 2nd quarter valued at about $468,000. Trivium Point Advisory LLC purchased a new position in NiSource during the 2nd quarter valued at about $418,000. Finally, HBK Sorce Advisory LLC bought a new stake in shares of NiSource in the 2nd quarter valued at about $511,000. Institutional investors own 91.64% of the company's stock.

NiSource Stock Down 1.2%

Shares of NiSource stock opened at $41.61 on Thursday. 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 $19.96 billion, a P/E ratio of 22.13, a PEG ratio of 3.13 and a beta of 0.55. The firm's 50 day moving average price is $45.69 and its 200-day moving average price is $46.31. NiSource, Inc has a 52-week low of $38.45 and a 52-week high of $49.21.

NiSource (NYSE:NI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. NiSource had a net margin of 13.20% and a return on equity of 7.95%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, sell-side analysts predict 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. Investors of record on Friday, October 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource's dividend payout ratio is currently 63.83%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NI. Royal Bank Of Canada initiated coverage on shares of NiSource in a research note on Wednesday, July 1st. They set an "outperform" rating and a $52.00 price objective on the stock. Citigroup upped their target price on 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 dropped their target price on NiSource from $51.50 to $51.00 and set a "buy" rating on the stock in a research report on Monday. KeyCorp cut their price target on NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Finally, BMO Capital Markets reduced their price target on NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.82.

Insider Transactions at NiSource

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the completion of the sale, the executive vice president owned 35,990 shares of the company's stock, valued at approximately $1,716,003.20. This trade represents a 29.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melody Birmingham sold 37,509 shares of NiSource stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 78,527 shares of the company's stock, valued at $3,329,544.80. This trade represents a 32.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company 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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