Legal & General Group Plc Sells 127,285 Shares of NiSource, Inc $NI

Key Points

• Legal & General Group Plc reduced its NiSource stake by 3.1% in the fourth quarter, selling 127,285 shares and leaving it with 3,935,937 shares worth about $164.4 million.
• NiSource insiders also sold shares, with EVP Melanie B. Berman and EVP Melody Birmingham making notable sales; insiders sold 27,500 shares total over the past 90 days.
• The company reported Q1 earnings of $1.06 per share, matching estimates, and recently declared a quarterly dividend of $0.30 per share, equivalent to a 2.5% yield.

Legal & General Group Plc cut its position in NiSource, Inc (NYSE:NI - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,935,937 shares of the utilities provider's stock after selling 127,285 shares during the quarter. Legal & General Group Plc owned 0.82% of NiSource worth $164,365,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. REAP Financial Group LLC bought a new position in shares of NiSource during the third quarter worth about $32,000. Elyxium Wealth LLC bought a new position in shares of NiSource during the fourth quarter worth about $33,000. Laurel Wealth Advisors LLC bought a new stake in NiSource in the fourth quarter worth approximately $46,000. Sentry Investment Management LLC bought a new stake in NiSource in the third quarter worth approximately $52,000. Finally, MUFG Securities EMEA plc bought a new stake in NiSource in the second quarter worth approximately $56,000. 91.64% of the stock is currently owned by institutional investors.

Insider Transactions at NiSource

In other news, EVP Melanie B. Berman sold 15,000 shares of the company's 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 transaction, the executive vice president directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Melody Birmingham sold 10,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.19, for a total value of $471,900.00. Following the completion of the transaction, the executive vice president owned 117,899 shares of the company's stock, valued at $5,563,653.81. The trade was a 7.82% 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 worth $1,305,675 over the last 90 days. Corporate insiders own 0.37% of the company's stock.

NiSource Stock Down 0.7%

Shares of NYSE NI opened at $47.46 on Thursday. NiSource, Inc has a one year low of $38.45 and a one year high of $48.98. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56. The business's fifty day moving average price is $47.22 and its 200-day moving average price is $44.98. The stock has a market capitalization of $22.75 billion, a PE ratio of 23.61, a P/E/G ratio of 3.82 and a beta of 0.57.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting analysts' consensus estimates of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The firm had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities research analysts anticipate 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 Thursday, August 20th. Investors of record on Friday, July 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, July 31st. NiSource's payout ratio is presently 59.70%.

Wall Street Analyst Weigh In

NI has been the subject of a number of research reports. Barclays raised their price objective on NiSource from $45.00 to $49.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. BMO Capital Markets reissued an "outperform" rating and issued a $51.00 price objective on shares of NiSource in a research note on Monday, April 20th. KeyCorp began coverage on NiSource in a research report on Tuesday, March 31st. They set an "overweight" rating and a $52.00 target price on the stock. Wells Fargo & Company lifted their target price on NiSource from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NiSource has a consensus rating of "Moderate Buy" and a consensus price target of $50.33.

NiSource Company Profile

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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