Jupiter Topco LLC Makes New Investment in NiSource, Inc $NI

Key Points

• Jupiter Topco LLC purchased 51,151 NiSource shares in the second quarter, valued at approximately $2.43 million. Institutional investors collectively own 91.64% of the utility company.
• NiSource reported quarterly revenue of $1.34 billion and adjusted earnings of $0.16 per share, matching analyst expectations, while issuing fiscal 2026 EPS guidance of $2.02–$2.07.
• The company declared a quarterly dividend of $0.30 per share, representing a $1.20 annualized payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $49.64.

Jupiter Topco LLC purchased a new position in NiSource, Inc (NYSE:NI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 51,151 shares of the utilities provider's stock, valued at approximately $2,432,000.

Several other hedge funds have also recently made changes to their positions in NI. BlackRock Inc. purchased a new position in NiSource in the second quarter worth about $2,613,234,000. T. Rowe Price Investment Management Inc. increased its position in shares of NiSource by 19.0% during 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 during the last quarter. State Street Corp lifted its stake 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 worth $1,116,459,000 after purchasing an additional 1,154,351 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of NiSource by 55,625.2% in the 2nd 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 boosted its holdings 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 buying an additional 245,110 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NiSource

In other NiSource news, EVP Melody Birmingham sold 37,509 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the sale, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. The trade was a 32.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company's stock.

NiSource Trading Up 0.5%

Shares of NYSE:NI opened at $41.15 on Thursday. The stock has a 50 day moving average of $44.43 and a 200 day moving average of $46.07. The company has a market cap of $19.73 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 3.05 and a beta of 0.54. NiSource, Inc has a 12-month low of $38.45 and a 12-month 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.

NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 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 for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the business earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities research analysts expect that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. NiSource's dividend payout ratio (DPR) is presently 63.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NI shares. Citigroup upped their target price on shares of NiSource from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Wall Street Zen cut shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. LADENBURG THALM/SH SH cut their price objective on shares of NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a research note on Tuesday, July 21st. Finally, Barclays decreased their target price on NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $49.64.

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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