Rakuten Investment Management Inc. Buys Shares of 78,413 NiSource, Inc $NI

Key Points

• Rakuten Investment Management bought 78,413 NiSource shares worth approximately $3.8 million during the second quarter. Institutional investors own 91.64% of the utility company.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and two Hold ratings, producing a consensus “Moderate Buy” rating and a $49.64 price target.
• NiSource reported quarterly EPS of $0.16 in line with estimates and revenue of $1.34 billion above expectations. The company also declared a quarterly dividend of $0.30 per share, representing a 3.0% annualized yield.

Rakuten Investment Management Inc. purchased a new position in NiSource, Inc (NYSE:NI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 78,413 shares of the utilities provider's stock, valued at approximately $3,776,000.

A number of other large investors have also recently made changes to their positions in NI. Compass Financial Management LLC bought a new stake in shares of NiSource during the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT lifted its stake in shares of NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider's stock valued at $26,000 after buying an additional 330 shares in the last quarter. Strive Financial Group LLC bought a new position in NiSource in the 4th quarter worth $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in NiSource in the 4th quarter worth $27,000. Finally, DV Equities LLC bought a new stake in NiSource during the fourth quarter valued at about $28,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on NiSource from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Citigroup lifted their target price on NiSource from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Barclays lowered their price target on NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. KeyCorp cut their price objective on shares of NiSource from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Finally, Evercore set a $52.00 target price on shares of NiSource in a research note on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, NiSource currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.64.

Insider Buying and Selling at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the sale, the executive vice president directly owned 78,527 shares in the company, valued at approximately $3,329,544.80. This represents a 32.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

NiSource Price Performance

NYSE NI opened at $40.57 on Monday. The stock has a 50 day moving average price of $44.82 and a 200-day moving average price of $46.15. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. The company has a market capitalization of $19.46 billion, a P/E ratio of 21.58, a P/E/G ratio of 3.02 and a beta of 0.55.

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

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be issued a $0.30 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. NiSource's payout ratio is 63.83%.

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.

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