Summit Global Investments Has $2.66 Million Position in NiSource, Inc $NI

Key Points

• Summit Global Investments cut its NiSource stake by 37.4% in the first quarter, leaving it with 57,087 shares valued at about $2.66 million.
• NiSource reported Q1 earnings of $1.06 per share, matching analyst estimates, while revenue came in below expectations at $2.36 billion. The company also reaffirmed FY 2026 guidance of 2.020–2.070 EPS.
• The utility declared a quarterly dividend of $0.30 per share, or $1.20 annually, implying a 2.6% yield; meanwhile, analysts currently rate the stock a Moderate Buy with a consensus price target of $50.50.

Summit Global Investments lessened its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 37.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,087 shares of the utilities provider's stock after selling 34,159 shares during the quarter. Summit Global Investments' holdings in NiSource were worth $2,664,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of NiSource by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider's stock worth $2,606,180,000 after acquiring an additional 1,032,630 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in NiSource by 19.0% during the 4th 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. State Street Corp increased its holdings in NiSource by 4.5% during the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider's stock worth $1,116,459,000 after purchasing an additional 1,154,351 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of NiSource by 55,625.2% in the second quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider's stock worth $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 245,110 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company's stock.

NiSource Trading Down 1.4%

Shares of NiSource stock opened at $45.33 on Tuesday. The firm has a market cap of $21.73 billion, a PE ratio of 22.55, a P/E/G ratio of 3.42 and a beta of 0.55. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56. The stock has a fifty day moving average price of $46.95 and a 200-day moving average price of $46.17.

NiSource (NYSE:NI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, hitting analysts' consensus estimates of $1.06. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.52 billion. NiSource had a net margin of 14.15% and a return on equity of 8.31%. During the same period in the previous year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities research analysts anticipate 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. Shareholders of record on Friday, July 31st will be given 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 payout ratio is currently 59.70%.

Insider Transactions at NiSource

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.19, for a total value of $471,900.00. Following the transaction, the executive vice president directly owned 117,899 shares in the company, valued at $5,563,653.81. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total transaction of $715,200.00. Following the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,500 shares of company stock worth $1,305,675. Corporate insiders own 0.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NI. Evercore set a $52.00 price target on NiSource in a report on Monday, May 11th. Wall Street Zen downgraded shares of NiSource from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. KeyCorp initiated coverage on shares of NiSource in a report on Tuesday, March 31st. They set an "overweight" rating and a $52.00 price target on the stock. Weiss Ratings lowered shares of NiSource from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Finally, BMO Capital Markets dropped their target price on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

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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