M&T Bank Corp Buys 32,467 Shares of NiSource, Inc $NI

Key Points

• M&T Bank Corp increased its stake in NiSource by 91.0% in Q4, adding 32,467 shares to hold 68,148 shares worth about $2.85 million at the end of the period.
• NiSource beat Q expectations with $0.51 EPS vs. $0.49 and set FY2026 guidance of 2.020–2.070 EPS; the company also declared a quarterly dividend of $0.30 (ex-dividend April 30, pay May 20), implying a 2.5% yield.
• Analysts rate NiSource a "Moderate Buy" with a consensus price target of $48.80, and institutional investors own roughly 91.6% of the stock.

M&T Bank Corp grew its stake in NiSource, Inc (NYSE:NI - Free Report) by 91.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,148 shares of the utilities provider's stock after acquiring an additional 32,467 shares during the period. M&T Bank Corp's holdings in NiSource were worth $2,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tower Bridge Advisors grew its stake in NiSource by 1.1% in the 3rd quarter. Tower Bridge Advisors now owns 21,132 shares of the utilities provider's stock worth $915,000 after acquiring an additional 232 shares in the last quarter. Choreo LLC grew its stake in NiSource by 2.7% in the 4th quarter. Choreo LLC now owns 8,769 shares of the utilities provider's stock worth $369,000 after acquiring an additional 234 shares in the last quarter. Advisory Services Network LLC grew its stake in NiSource by 1.6% in the 3rd quarter. Advisory Services Network LLC now owns 14,951 shares of the utilities provider's stock worth $647,000 after acquiring an additional 234 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in NiSource by 1.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,319 shares of the utilities provider's stock worth $626,000 after acquiring an additional 245 shares in the last quarter. Finally, Prosperity Consulting Group LLC grew its stake in NiSource by 1.1% in the 3rd quarter. Prosperity Consulting Group LLC now owns 23,565 shares of the utilities provider's stock worth $1,020,000 after acquiring an additional 246 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NI has been the subject of several research reports. Weiss Ratings cut shares of NiSource from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $51.00 price target on shares of NiSource in a research report on Monday, April 20th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $51.00 price target on shares of NiSource in a research report on Tuesday, April 21st. Wall Street Zen raised shares of NiSource from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Finally, Citigroup upped their price target on shares of NiSource from $44.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, NiSource has an average rating of "Moderate Buy" and a consensus price target of $48.80.

NiSource Trading Up 0.5%

NYSE:NI opened at $48.22 on Tuesday. NiSource, Inc has a 52 week low of $37.22 and a 52 week high of $48.83. The firm has a 50 day moving average of $46.91 and a 200 day moving average of $44.37. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $23.11 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 3.84 and a beta of 0.61.

NiSource (NYSE:NI - Get Free Report) last posted its earnings results on Wednesday, February 11th. The utilities provider reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.02. NiSource had a net margin of 13.99% and a return on equity of 8.07%. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, sell-side analysts anticipate that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Thursday, April 30th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. NiSource's dividend payout ratio (DPR) is currently 61.54%.

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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