NiSource, Inc $NI Holdings Increased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its NiSource stake by 8.7% in the first quarter, buying 64,422 additional shares and bringing its total holding to 807,175 shares worth about $37.7 million.
• Analyst sentiment is mixed but still leans positive: NiSource has a consensus rating of “Moderate Buy” with a $50.50 price target, though some firms recently downgraded the stock while others maintained or initiated bullish coverage.
• NiSource posted in-line quarterly earnings of $1.06 per share, while revenue came in below expectations at $2.36 billion; the company also announced a quarterly dividend of $0.30 per share, implying a 2.6% annual yield.

Hsbc Holdings PLC lifted its stake in NiSource, Inc (NYSE:NI - Free Report) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 807,175 shares of the utilities provider's stock after acquiring an additional 64,422 shares during the period. Hsbc Holdings PLC owned 0.17% of NiSource worth $37,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NI. Kestra Advisory Services LLC raised its holdings in NiSource by 5.1% during the first quarter. Kestra Advisory Services LLC now owns 106,261 shares of the utilities provider's stock worth $4,958,000 after purchasing an additional 5,198 shares in the last quarter. R Squared Ltd increased its position in shares of NiSource by 39.6% during the 1st quarter. R Squared Ltd now owns 14,887 shares of the utilities provider's stock valued at $695,000 after purchasing an additional 4,223 shares during the period. Praxis Investment Management Inc. acquired a new position in shares of NiSource during the 1st quarter valued at $378,000. V Square Quantitative Management LLC raised its stake in shares of NiSource by 3.6% in the 1st quarter. V Square Quantitative Management LLC now owns 13,605 shares of the utilities provider's stock worth $635,000 after buying an additional 475 shares in the last quarter. Finally, Syntegra Private Wealth Group LLC bought a new stake in shares of NiSource in the 1st quarter worth $215,000. 91.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NI. KeyCorp began coverage on NiSource in a report on Tuesday, March 31st. They issued an "overweight" rating and a $52.00 price objective for the company. Weiss Ratings cut shares of NiSource from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Evercore set a $52.00 price objective on shares of NiSource in a research report on Monday, May 11th. Finally, BMO Capital Markets lowered their price objective on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, NiSource has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Insider Activity

In other news, EVP Melody Birmingham sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total transaction of $471,900.00. Following the sale, the executive vice president owned 117,899 shares in the company, valued at $5,563,653.81. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total transaction of $715,200.00. Following the completion of the sale, the executive vice president 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. Over the last quarter, insiders sold 27,500 shares of company stock valued at $1,305,675. Corporate insiders own 0.37% of the company's stock.

NiSource Stock Performance

Shares of NYSE NI opened at $45.33 on Tuesday. The stock's fifty day simple moving average is $46.95 and its 200 day simple moving average is $46.17. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 3.42 and a beta of 0.55. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30. NiSource, Inc has a 52-week low of $38.45 and a 52-week high of $49.21.

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

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. NiSource's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.