NiSource, Inc $NI Position Trimmed by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its NiSource position by 41.7% in the second quarter, selling 111,517 shares and retaining 155,980 shares valued at approximately $7.4 million. Institutional investors collectively own 91.64% of the company.
• NiSource reported quarterly earnings of $0.16 per share, in line with estimates, while revenue of $1.34 billion exceeded the $1.15 billion consensus forecast. The company maintained fiscal 2026 EPS guidance of $2.02–$2.07.
• NiSource declared a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 payout and a 2.9% yield. Analysts retain a “Moderate Buy” consensus rating with an average price target of $49.64.

Engineers Gate Manager LP decreased its holdings in NiSource, Inc (NYSE:NI - Free Report) by 41.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,980 shares of the utilities provider's stock after selling 111,517 shares during the period. Engineers Gate Manager LP's holdings in NiSource were worth $7,417,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in NiSource by 60.1% in the 1st quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider's stock valued at $1,223,000 after buying an additional 11,452 shares during the period. Woodline Partners LP grew its holdings in shares of NiSource by 41.6% during the 1st quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider's stock valued at $1,592,000 after acquiring an additional 11,671 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of NiSource during the 1st quarter valued at $105,000. Bank of Nova Scotia increased its stake in shares of NiSource by 0.5% in the second quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider's stock worth $1,986,000 after acquiring an additional 266 shares during the last quarter. Finally, AXA S.A. acquired a new position in shares of NiSource in the second quarter worth $1,054,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Melody Birmingham sold 37,509 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president directly owned 78,527 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.37% of the company's stock.

NiSource Stock Down 0.6%

NI stock opened at $41.42 on Friday. The firm has a market cap of $19.86 billion, a PE ratio of 22.03, a PEG ratio of 3.11 and a beta of 0.54. NiSource, Inc has a 1 year low of $39.29 and a 1 year high of $49.21. The company has a fifty day simple moving average of $43.68 and a 200 day simple moving average of $45.88. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31.

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

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource's dividend payout ratio (DPR) is presently 63.83%.

Analyst Upgrades and Downgrades

NI has been the subject of a number of research reports. KeyCorp reduced their price objective on NiSource from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Mizuho dropped their target price on NiSource from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 26th. Barclays cut their price target on NiSource from $51.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. BMO Capital Markets reduced their price target on NiSource from $51.00 to $49.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Finally, Royal Bank Of Canada started coverage on NiSource in a research note on Wednesday, July 1st. They issued an "outperform" rating and a $52.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.64.

NiSource Company 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.

Want to see what other hedge funds are holding NI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NiSource, Inc (NYSE:NI - Free Report).

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.