NiSource, Inc $NI Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia increased its stake in shares of NiSource, Inc (NYSE:NI - Free Report) by 243.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,457 shares of the utilities provider's stock after acquiring an additional 477,187 shares during the quarter. Bank of Nova Scotia owned about 0.14% of NiSource worth $31,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of NiSource by 60.1% during the first quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider's stock worth $1,223,000 after purchasing an additional 11,452 shares in the last quarter. Woodline Partners LP increased its position in NiSource by 41.6% during the first quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider's stock worth $1,592,000 after buying an additional 11,671 shares during the period. Acadian Asset Management LLC acquired a new position in shares of NiSource in the 1st quarter valued at $105,000. AXA S.A. purchased a new stake in shares of NiSource in the second quarter valued at about $1,054,000. Finally, Squarepoint Ops LLC boosted its stake in shares of NiSource by 27.6% during the second quarter. Squarepoint Ops LLC now owns 207,409 shares of the utilities provider's stock worth $8,367,000 after buying an additional 44,822 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NI has been the topic of a number of research reports. Royal Bank Of Canada assumed coverage on NiSource in a report on Wednesday, July 1st. They set an "outperform" rating and a $52.00 price target on the stock. Wells Fargo & Company increased their price objective on NiSource from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings reissued a "buy (b)" rating on shares of NiSource in a report on Tuesday. Evercore set a $52.00 price target on NiSource in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of NiSource from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.30.

Insider Activity

In related news, EVP Melody Birmingham sold 2,500 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total value of $118,575.00. Following the completion of the transaction, the executive vice president directly owned 116,036 shares in the company, valued at approximately $5,503,587.48. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the transaction, the executive vice president owned 35,990 shares in the company, valued at $1,716,003.20. This trade represents a 29.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,500 shares of company stock worth $1,305,675 over the last ninety days. 0.37% of the stock is owned by corporate insiders.

NiSource Trading Down 0.2%

Shares of NI opened at $46.66 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $49.21. The stock has a market cap of $22.37 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 3.48 and a beta of 0.55. The firm has a 50 day simple moving average of $46.90 and a 200-day simple moving average of $46.26.

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 analysts' consensus estimates of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The firm had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities analysts forecast that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, July 31st. NiSource's dividend payout ratio is 59.70%.

Key Stories Impacting NiSource

Here are the key news stories impacting NiSource this week:

• Positive Sentiment: KeyCorp kept an Overweight rating on NiSource and reiterated a $50 price target, implying upside from current levels and signaling continued analyst confidence in the utility’s valuation. Benzinga report
• Positive Sentiment: KeyCorp raised its FY2027, FY2028, and FY2029 EPS estimates for NiSource, suggesting improving earnings power over the next several years and supporting the stock’s longer-term investment case.
• Positive Sentiment: Wells Fargo reportedly initiated or maintained a Buy view on NiSource, adding to the positive analyst backdrop around the stock. Nisource (NI) Gets a Buy from Wells Fargo
• Neutral Sentiment: KeyCorp trimmed near-term EPS estimates for Q2, Q3, and Q4 2026, which may temper enthusiasm somewhat, but the reductions were relatively small and did not change the firm’s overall positive stance.
• Neutral Sentiment: Consensus full-year earnings remain at about $2.05 per share, so the latest analyst revisions do not materially alter the broad earnings outlook yet.

NiSource 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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