Deutsche Bank AG purchased a new position in shares of NiSource, Inc (NYSE:NI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,077,706 shares of the utilities provider's stock, valued at approximately $574,295,000. Deutsche Bank AG owned approximately 2.52% of NiSource as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of NI. Strive Financial Group LLC acquired a new stake in NiSource in the fourth quarter valued at about $26,000. Zions Bancorporation National Association UT raised its stake in NiSource by 113.8% during the fourth quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock worth $26,000 after acquiring an additional 330 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of NiSource in the fourth quarter worth about $27,000. DV Equities LLC bought a new position in shares of NiSource in the fourth quarter worth about $28,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of NiSource in the 4th quarter valued at approximately $28,000. 91.64% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Evercore set a $52.00 price target on shares of NiSource in a report on Monday, May 11th. BMO Capital Markets dropped their price objective on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. KeyCorp cut their target price on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. 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. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of NiSource in a report on Tuesday, July 21st. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.82.
Read Our Latest Research Report on NI
NiSource Stock Performance
NYSE:NI opened at $42.31 on Tuesday. The stock has a market cap of $20.29 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 3.16 and a beta of 0.55. 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's 50-day moving average is $45.88 and its 200-day moving average is $46.35. 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 released 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.15 billion. NiSource had a return on equity of 7.95% and a net margin of 13.20%.During the same quarter in the prior year, the firm posted $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities research analysts anticipate that NiSource, Inc will post 2.05 earnings per share for the current year.
NiSource Announces Dividend
The firm 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 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 30th. NiSource's dividend payout ratio is 63.83%.
Insider Activity at NiSource
In other news, EVP Melody Birmingham sold 2,500 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $47.43, for a total transaction of $118,575.00. Following the completion of the transaction, the executive vice president owned 116,036 shares of the company's stock, valued at approximately $5,503,587.48. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction on Friday, May 22nd. The stock was 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 trade represents a 29.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.37% of the company's stock.
NiSource Company 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.
See Also
Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI - Free Report).
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