NiSource, Inc $NI Stake Increased by CIBC Asset Management Inc

Key Points

• CIBC Asset Management boosted its NiSource stake by 69.5% in the fourth quarter, ending with 113,497 shares valued at about $4.74 million.
• NiSource reported Q1 earnings of $1.06 per share, matching estimates, while revenue came in at $2.36 billion versus the $2.52 billion expected. The company also reaffirmed its FY2026 guidance of 2.020–2.070 EPS.
• The utility declared a quarterly dividend of $0.30 per share, payable August 20, which works out to an annualized yield of about 2.6%; meanwhile, analysts currently rate the stock a Moderate Buy with an average target price of $50.33.

CIBC Asset Management Inc increased its stake in NiSource, Inc (NYSE:NI - Free Report) by 69.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,497 shares of the utilities provider's stock after buying an additional 46,556 shares during the period. CIBC Asset Management Inc's holdings in NiSource were worth $4,740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of NiSource in the third quarter worth $84,086,000. Magellan Asset Management Ltd increased its stake in shares of NiSource by 7.5% in the third quarter. Magellan Asset Management Ltd now owns 369,164 shares of the utilities provider's stock worth $15,985,000 after buying an additional 25,721 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of NiSource in the third quarter worth $1,154,000. Capital International Investors increased its stake in shares of NiSource by 15.1% in the third quarter. Capital International Investors now owns 8,136,157 shares of the utilities provider's stock worth $352,296,000 after buying an additional 1,065,591 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of NiSource by 41.7% in the fourth quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider's stock worth $37,228,000 after buying an additional 262,483 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

NiSource Stock Performance

Shares of NYSE NI opened at $46.60 on Friday. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $48.98. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The company has a market cap of $22.34 billion, a PE ratio of 23.19, a P/E/G ratio of 3.72 and a beta of 0.54. The stock has a 50 day simple moving average of $47.22 and a 200-day simple moving average of $45.09.

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.06. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same quarter in the previous year, the firm posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities research analysts forecast that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

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

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore set a $52.00 price objective on shares of NiSource in a report on Monday, May 11th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $51.00 price objective on shares of NiSource in a report on Monday, April 20th. Barclays lifted their price objective on shares of NiSource from $45.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Weiss Ratings downgraded shares of NiSource from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $50.33.

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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