Public Employees Retirement System of Ohio Takes $7.44 Million Position in NiSource, Inc $NI

Key Points

• Public Employees Retirement System of Ohio acquired 156,384 NiSource shares worth approximately $7.44 million during the second quarter. Institutional investors now hold 91.64% of the utility’s outstanding stock.
• Analysts maintain a generally positive view, with 10 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $49.64, despite several recent target reductions.
• NiSource reported quarterly EPS of $0.16, matching estimates, while revenue of $1.34 billion exceeded expectations. The company also declared a quarterly dividend of $0.30 per share, equivalent to a 2.9% annualized yield.

Public Employees Retirement System of Ohio acquired a new position in NiSource, Inc (NYSE:NI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 156,384 shares of the utilities provider's stock, valued at approximately $7,436,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Compass Financial Management LLC acquired a new position in shares of NiSource during the 2nd quarter worth about $26,000. Zions Bancorporation National Association UT grew its holdings in shares of NiSource by 113.8% in the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 330 shares in the last quarter. Strive Financial Group LLC acquired a new stake in shares of NiSource in the fourth quarter valued at about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in NiSource during the fourth quarter worth about $27,000. Finally, DV Equities LLC bought a new stake in NiSource during the fourth quarter worth about $28,000. Institutional investors own 91.64% of the company's stock.

Insider Buying and Selling at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of NiSource stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares of the company's stock, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

NI has been the subject of several recent analyst reports. Mizuho cut their price objective on NiSource from $50.00 to $48.00 and set an "outperform" rating for the company in a report on Wednesday, August 26th. Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Barclays dropped their price target on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. LADENBURG THALM/SH SH decreased their price objective on shares of NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Finally, KeyCorp lowered their price objective on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.64.

NiSource Trading Up 0.0%

Shares of NYSE:NI opened at $40.94 on Wednesday. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $49.21. The business has a 50 day moving average of $44.56 and a 200-day moving average of $46.10. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.31. The stock has a market cap of $19.63 billion, a PE ratio of 21.78, a P/E/G ratio of 3.05 and a beta of 0.55.

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

NiSource Announces Dividend

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

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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