Magellan Asset Management Ltd Acquires Shares of 532,855 NiSource, Inc $NI

Key Points

• Magellan Asset Management acquired 532,855 NiSource shares worth approximately $25.3 million, joining other institutional investors in buying the utility; institutions and hedge funds now own 91.64% of the stock.
• NiSource reported quarterly earnings of $0.16 per share, in line with estimates, while revenue of $1.34 billion exceeded expectations. The company maintained fiscal 2026 EPS guidance of $2.02–$2.07.
• NiSource declared a quarterly dividend of $0.30 per share, equivalent to a 3.0% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $49.82, compared with a recent price of $40.63.

Magellan Asset Management Ltd bought a new stake in NiSource, Inc (NYSE:NI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 532,855 shares of the utilities provider's stock, valued at approximately $25,337,000. Magellan Asset Management Ltd owned about 0.11% of NiSource as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Compass Financial Management LLC purchased a new stake in NiSource during the 2nd quarter valued at about $26,000. Zions Bancorporation National Association UT boosted its holdings in shares of NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock worth $26,000 after purchasing an additional 330 shares during the last quarter. Strive Financial Group LLC acquired a new position in shares of NiSource during the 4th quarter worth approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of NiSource in the fourth quarter valued at approximately $27,000. Finally, DV Equities LLC acquired a new stake in shares of NiSource in the fourth quarter valued at approximately $28,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

NiSource Trading Up 0.0%

NI opened at $40.63 on Monday. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The company has a market cap of $19.48 billion, a P/E ratio of 21.61, a PEG ratio of 3.02 and a beta of 0.55. 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 business's 50-day simple moving average is $45.46 and its 200-day simple moving average is $46.27.

NiSource (NYSE:NI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.15 billion. NiSource had a return on equity of 7.95% and a net margin of 13.20%.During the same quarter in the previous year, the business earned $0.22 earnings per share. 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 fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 30th. NiSource's dividend payout ratio is presently 63.83%.

Wall Street Analyst Weigh In

NI has been the subject of a number of recent research reports. Evercore set a $52.00 target price on NiSource in a research note on Monday, May 11th. Weiss Ratings reissued a "buy (b)" rating on shares of NiSource in a research note on Tuesday, July 21st. Wells Fargo & Company raised their price objective on NiSource from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. BMO Capital Markets decreased their price target on NiSource from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.82.

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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