Eurizon Capital SGR S.p.A. Takes $2.57 Million Position in NiSource, Inc $NI

Key Points

• Eurizon Capital SGR opened a new position in NiSource during the fourth quarter, buying 61,574 shares valued at about $2.57 million.
• Institutional ownership in NiSource remains heavy, with hedge funds and other institutions holding 91.64% of the stock. Several firms also recently increased their stakes.
• Analysts are generally constructive on the utility, with an average rating of “Moderate Buy” and a consensus price target of $50.33, above the recent share price of $45.82.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of NiSource, Inc (NYSE:NI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,574 shares of the utilities provider's stock, valued at approximately $2,572,000.

Other institutional investors have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd purchased a new position in NiSource during the third quarter valued at $84,086,000. Magellan Asset Management Ltd lifted its position in NiSource by 7.5% during the third quarter. Magellan Asset Management Ltd now owns 369,164 shares of the utilities provider's stock valued at $15,985,000 after buying an additional 25,721 shares during the period. WINTON GROUP Ltd purchased a new position in NiSource during the third quarter valued at $1,154,000. Capital International Investors lifted its position in NiSource by 15.1% during the third quarter. Capital International Investors now owns 8,136,157 shares of the utilities provider's stock valued at $352,296,000 after buying an additional 1,065,591 shares during the period. Finally, Alkeon Capital Management LLC lifted its position in NiSource by 21.0% during the third quarter. Alkeon Capital Management LLC now owns 3,100,500 shares of the utilities provider's stock valued at $134,252,000 after buying an additional 539,000 shares during the period. Hedge funds and other institutional investors own 91.64% of the company's stock.

Analyst Upgrades and Downgrades

NI has been the subject of several recent research reports. KeyCorp initiated coverage on NiSource in a research report on Tuesday, March 31st. They set an "overweight" rating and a $52.00 price objective for the company. Barclays raised their price objective on NiSource from $45.00 to $49.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Citigroup raised their price objective on NiSource from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Wells Fargo & Company raised their price objective on NiSource from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Finally, Evercore set a $52.00 price target on NiSource in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $50.33.

NiSource Price Performance

Shares of NYSE:NI opened at $45.82 on Wednesday. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $48.98. The business has a fifty day moving average price of $47.17 and a 200-day moving average price of $45.03. The company has a market capitalization of $21.97 billion, a PE ratio of 22.79, a PEG ratio of 3.60 and a beta of 0.54. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56.

NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities analysts expect that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, July 31st. NiSource's dividend payout ratio (DPR) is presently 59.70%.

Insider Activity

In related news, EVP Melody Birmingham sold 2,500 shares of NiSource stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total value of $118,575.00. Following the completion of the sale, the executive vice president directly owned 116,036 shares in the company, valued at approximately $5,503,587.48. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource 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 $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,500 shares of company stock valued at $1,305,675 over the last quarter. 0.37% of the stock is owned by corporate insiders.

About NiSource

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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