Fox Hill Wealth Management bought a new position in NiSource, Inc (NYSE:NI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,599 shares of the utilities provider's stock, valued at approximately $2,644,000. NiSource accounts for about 1.1% of Fox Hill Wealth Management's holdings, making the stock its 29th biggest position.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of NiSource in the second quarter valued at about $2,613,234,000. T. Rowe Price Investment Management Inc. raised its stake in shares of NiSource by 19.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider's stock valued at $2,150,818,000 after acquiring an additional 8,240,227 shares during the last quarter. State Street Corp boosted its holdings in shares of NiSource by 4.5% during the fourth quarter. State Street Corp now owns 26,735,119 shares of the utilities provider's stock worth $1,116,459,000 after purchasing an additional 1,154,351 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of NiSource by 55,625.2% during the second quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider's stock worth $680,411,000 after purchasing an additional 16,836,630 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of NiSource by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider's stock worth $518,301,000 after purchasing an additional 245,110 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company's stock.
NiSource Trading Down 1.0%
Shares of NI opened at $40.57 on Friday. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $49.21. 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 firm's 50-day moving average price is $44.82 and its 200-day moving average price is $46.14. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 3.05 and a beta of 0.55.
NiSource (NYSE:NI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, hitting 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 the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Sell-side analysts anticipate that NiSource, Inc will post 2.05 EPS for the current year.
NiSource Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. NiSource's dividend payout ratio is currently 63.83%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. BMO Capital Markets reduced 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. Wells Fargo & Company increased their price objective on NiSource from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Barclays cut their price objective on NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Evercore set a $52.00 target price on NiSource in a research note on Monday, May 11th. Finally, Royal Bank Of Canada started coverage on NiSource in a report on Wednesday, July 1st. They set an "outperform" rating and a $52.00 target price for the company. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.64.
View Our Latest Analysis on NI
Insider Activity at NiSource
In other news, EVP Melody Birmingham sold 37,509 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the transaction, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.
NiSource Profile
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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.
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