NewEdge Advisors LLC Acquires 140,144 Shares of NiSource, Inc $NI

Key Points

• NewEdge Advisors increased its NiSource stake by 15.1% in the second quarter, acquiring 140,144 shares and bringing its total holdings to 1.07 million shares valued at approximately $50.9 million.
• Institutional investors own 91.64% of NiSource, with major additions from BlackRock, California State Teachers Retirement System, Orion Portfolio Solutions, and Deutsche Bank.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $49.64 versus the stock’s recent price of $41.70. NiSource also declared a quarterly dividend of $0.30 per share, yielding about 2.9% annually.

NewEdge Advisors LLC boosted its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,070,157 shares of the utilities provider's stock after buying an additional 140,144 shares during the period. NewEdge Advisors LLC owned approximately 0.22% of NiSource worth $50,886,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NI. BlackRock Inc. bought a new stake in shares of NiSource during the second quarter worth about $2,613,234,000. California State Teachers Retirement System lifted its position in NiSource by 4,566.9% in the 2nd quarter. California State Teachers Retirement System now owns 26,410,697 shares of the utilities provider's stock valued at $1,255,829,000 after acquiring an additional 25,844,777 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in NiSource by 55,625.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider's stock valued at $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. Deutsche Bank AG acquired a new position in NiSource during the 2nd quarter valued at about $574,295,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in 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 worth $2,150,818,000 after purchasing an additional 8,240,227 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Melody Birmingham sold 37,509 shares of NiSource stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,329,544.80. The trade was a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

NI has been the subject of several analyst reports. Barclays lowered their price objective on NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. LADENBURG THALM/SH SH lowered their price target on NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Mizuho dropped their price objective on NiSource from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 26th. KeyCorp cut their price objective on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Finally, BMO Capital Markets reduced their target price on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $49.64.

NiSource Stock Down 0.5%

NI stock opened at $41.70 on Thursday. The stock has a market cap of $20.00 billion, a P/E ratio of 22.18, a P/E/G ratio of 3.12 and a beta of 0.54. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The stock's fifty day simple moving average is $43.81 and its two-hundred day simple moving average is $45.91. NiSource, Inc has a 1-year low of $39.29 and a 1-year high of $49.21.

NiSource (NYSE:NI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. NiSource had a return on equity of 7.95% and a net margin of 13.20%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Analysts expect that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid 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%.

NiSource Profile

NiSource Inc NYSE: NI is a regulated utility company that provides natural gas and electric services to residential, commercial and industrial customers in the United States. Its operations are primarily focused on the distribution, transmission and storage of natural gas, along with electric generation and distribution in Indiana.

Through its Columbia Gas utilities, NiSource serves natural gas customers in Ohio, Pennsylvania, Virginia, Maryland, Massachusetts and Kentucky. Its Northern Indiana Public Service Company (NIPSCO) subsidiary provides natural gas and electric service in northern Indiana.

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