Marks Group Wealth Management Inc Invests $1.82 Million in NiSource, Inc $NI

Key Points

• Marks Group Wealth Management opened a new position in NiSource during the fourth quarter, buying 43,606 shares worth about $1.82 million.
• Several other institutional investors also added to or initiated NI holdings, and institutions now own 91.64% of the company’s stock.
• NiSource reported Q1 earnings of $1.06 per share, in line with estimates, and announced a quarterly dividend of $0.30 per share payable August 20, implying a 2.6% yield.

Marks Group Wealth Management Inc bought a new position in NiSource, Inc (NYSE:NI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,606 shares of the utilities provider's stock, valued at approximately $1,821,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NI. Godfrey Financial Associates Inc. bought a new position in shares of NiSource in the fourth quarter worth about $30,000. REAP Financial Group LLC acquired a new position in NiSource in the 3rd quarter worth about $32,000. Elyxium Wealth LLC bought a new position in NiSource in the fourth quarter valued at about $33,000. Laurel Wealth Advisors LLC bought a new position in NiSource in the fourth quarter valued at about $46,000. Finally, MUFG Securities EMEA plc bought a new position in NiSource in the second quarter valued at about $56,000. Institutional investors own 91.64% of the company's stock.

Wall Street Analyst Weigh In

NI has been the subject of several research reports. KeyCorp started coverage on NiSource in a research report on Tuesday, March 31st. They issued an "overweight" rating and a $52.00 target price for the company. BMO Capital Markets reaffirmed an "outperform" rating and issued a $51.00 price objective on shares of NiSource in a research note on Monday, April 20th. Evercore set a $52.00 price objective on NiSource in a research note on Monday, May 11th. Barclays upped 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. Finally, Wall Street Zen downgraded NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $50.33.

Insider Activity at NiSource

In other news, EVP Melody Birmingham sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 of the company's stock, valued at $5,503,587.48. This trade represents a 2.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Melanie B. Berman sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total transaction of $715,200.00. Following the sale, the executive vice president directly owned 35,990 shares of the company's stock, valued at approximately $1,716,003.20. This trade represents a 29.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 27,500 shares of company stock valued at $1,305,675. Insiders own 0.37% of the company's stock.

NiSource Stock Performance

NYSE:NI opened at $46.32 on Wednesday. The company has a market capitalization of $22.21 billion, a PE ratio of 23.05, a P/E/G ratio of 3.66 and a beta of 0.54. The company has a 50 day simple moving average of $47.23 and a two-hundred day simple moving average of $45.15. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65. NiSource, Inc has a fifty-two week low of $38.45 and a fifty-two week high of $48.98.

NiSource (NYSE:NI - Get Free Report) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, meeting analysts' consensus estimates of $1.06. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.52 billion. NiSource had a net margin of 14.15% and a return on equity of 8.31%. During the same quarter in the prior year, the firm posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Research analysts anticipate that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. NiSource's dividend payout ratio (DPR) is 59.70%.

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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