Squarepoint Ops LLC Sells 540,725 Shares of NiSource, Inc $NI

Key Points

• Squarepoint Ops LLC cut its NiSource stake by 92.1% in the second quarter, selling 540,725 shares and retaining 46,345 shares valued at approximately $2.2 million.
• Institutional ownership remains high at 91.64%, with major investors including BlackRock, T. Rowe Price, California State Teachers Retirement System, Geode Capital and Deutsche Bank adjusting or initiating positions.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $49.64. NiSource also declared a quarterly dividend of $0.30 per share, representing a 2.9% yield.

Squarepoint Ops LLC lessened its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 92.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 46,345 shares of the utilities provider's stock after selling 540,725 shares during the period. Squarepoint Ops LLC's holdings in NiSource were worth $2,204,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of NiSource in the 2nd quarter worth $2,613,234,000. T. Rowe Price Investment Management Inc. increased its holdings in NiSource by 19.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider's stock valued at $2,150,818,000 after purchasing an additional 8,240,227 shares during the last quarter. California State Teachers Retirement System lifted its stake in NiSource by 4,566.9% in the second quarter. California State Teachers Retirement System now owns 26,410,697 shares of the utilities provider's stock valued at $1,255,829,000 after buying an additional 25,844,777 shares during the period. Geode Capital Management LLC lifted its stake in NiSource by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider's stock valued at $518,301,000 after buying an additional 245,110 shares during the period. Finally, Deutsche Bank AG bought a new position in NiSource during the second quarter worth about $574,295,000. Institutional investors own 91.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NI shares. Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a research report on Tuesday, July 21st. Royal Bank Of Canada initiated coverage on NiSource in a research note on Wednesday, July 1st. They issued an "outperform" rating and a $52.00 target price for the company. KeyCorp lowered their price target on NiSource from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. BMO Capital Markets dropped their price target on NiSource from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Finally, LADENBURG THALM/SH SH cut their price objective on NiSource from $51.50 to $51.00 and set a "buy" rating on the stock in a report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $49.64.

Insider Buying and Selling at NiSource

In related news, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 78,527 shares in the company, 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. 0.37% of the stock is owned by corporate insiders.

NiSource Trading Down 1.0%

Shares of NYSE:NI opened at $41.01 on Tuesday. The firm has a market cap of $19.67 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 3.09 and a beta of 0.54. NiSource, Inc has a 12 month low of $39.29 and a 12 month high of $49.21. The company's fifty day simple moving average is $43.44 and its 200 day simple moving average is $45.81. The company has a quick ratio of 0.41, a current ratio of 0.50 and a debt-to-equity ratio of 1.31.

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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.15 billion. NiSource had a net margin of 13.20% and a return on equity of 7.95%. During the same period in the prior year, the business earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, research analysts forecast that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Announces Dividend

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

About NiSource

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.