Ceredex Value Advisors LLC Takes Position in NiSource, Inc $NI

Key Points

• Ceredex Value Advisors acquired 457,450 NiSource shares worth approximately $21.75 million in the second quarter, representing about 0.10% of the utility company. Institutional investors collectively own 91.64% of NiSource.
• Analysts maintain a generally positive view, with 10 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $49.82. Several firms recently lowered their targets, however.
• NiSource reported quarterly EPS of $0.16, matching estimates, and revenue of $1.34 billion, above expectations. The company also announced a quarterly dividend of $0.30 per share, implying a 2.9% annualized yield.

Ceredex Value Advisors LLC acquired a new position in NiSource, Inc (NYSE:NI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 457,450 shares of the utilities provider's stock, valued at approximately $21,752,000. Ceredex Value Advisors LLC owned approximately 0.10% of NiSource at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NI. Zions Bancorporation National Association UT lifted its position in NiSource by 113.8% during the 4th 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 period. Strive Financial Group LLC bought a new position in NiSource in the 4th quarter valued at approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of NiSource during the fourth quarter valued at $27,000. DV Equities LLC purchased a new stake in shares of NiSource during the 4th quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in NiSource in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 91.64% of the company's stock.

Insiders Place Their Bets

In related news, EVP Melody Birmingham sold 37,509 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore set a $52.00 price target on NiSource in a research note on Monday, May 11th. BMO Capital Markets decreased their price target on NiSource from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. KeyCorp lowered their target price on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Barclays dropped their price target on NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Finally, LADENBURG THALM/SH SH dropped their price objective on shares of NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.82.

NiSource Stock Performance

Shares of NYSE:NI opened at $41.69 on Friday. 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's 50 day simple moving average is $45.60 and its 200-day simple moving average is $46.29. The firm has a market cap of $19.99 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 3.10 and a beta of 0.55. NiSource, Inc has a one year low of $38.45 and a one 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 earnings per share for the quarter, hitting the consensus estimate of $0.16. NiSource had a return on equity of 7.95% and a net margin of 13.20%.The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the business earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities analysts predict that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders 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 2.9%. NiSource's dividend payout ratio is currently 63.83%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source