Global Retirement Partners LLC Invests $1.19 Million in NiSource, Inc $NI

Key Points

• Global Retirement Partners purchased 24,995 NiSource shares worth approximately $1.19 million during the second quarter. Institutional investors and hedge funds collectively own 91.64% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $49.82, despite some target reductions and one downgrade to “sell.”
• NiSource reported quarterly EPS of $0.16, matching estimates, on revenue of $1.34 billion. The company also declared a quarterly dividend of $0.30, equivalent to a 2.8% annual yield.

Global Retirement Partners LLC purchased a new stake in NiSource, Inc (NYSE:NI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,995 shares of the utilities provider's stock, valued at approximately $1,189,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of NiSource by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider's stock valued at $2,606,180,000 after acquiring an additional 1,032,630 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of NiSource by 19.0% in the 4th 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 purchasing an additional 8,240,227 shares in the last quarter. State Street Corp increased its holdings in shares of NiSource by 4.5% in the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider's stock valued at $1,116,459,000 after acquiring an additional 1,154,351 shares during the last quarter. Orion Porfolio Solutions LLC grew 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 valued at $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in NiSource by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider's stock valued at $518,301,000 after purchasing an additional 245,110 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were 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 represents a 29.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melody Birmingham sold 2,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total transaction of $118,575.00. Following the completion of the sale, the executive vice president owned 116,036 shares in the company, valued at approximately $5,503,587.48. This trade represents a 2.11% 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Citigroup increased their price target on NiSource from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Weiss Ratings reissued a "buy (b)" rating on shares of NiSource in a report on Tuesday, July 21st. KeyCorp dropped their price target on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Finally, Evercore set a $52.00 price target on NiSource in a report on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.82.

NiSource Stock Performance

Shares of NiSource stock opened at $42.31 on Tuesday. The firm has a fifty day moving average of $45.88 and a two-hundred day moving average of $46.35. 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 stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 3.16 and a beta of 0.55. 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 quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.15 billion. NiSource had a return on equity of 7.95% and a net margin of 13.20%.During the same period last year, the company earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities research analysts predict that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. NiSource's dividend payout ratio is 63.83%.

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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