Magellan Asset Management Ltd Cuts Position in NiSource, Inc $NI

Magellan Asset Management Ltd reduced its position in NiSource, Inc (NYSE:NI) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 343,443 shares of the utilities provider’s stock after selling 3,251 shares during the quarter. Magellan Asset Management Ltd’s holdings in NiSource were worth $13,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of NiSource by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 60,844,001 shares of the utilities provider’s stock valued at $2,439,236,000 after acquiring an additional 3,050,420 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in NiSource by 12.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 24,020,859 shares of the utilities provider’s stock worth $962,997,000 after buying an additional 2,650,827 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of NiSource by 1.4% in the 2nd quarter. Jennison Associates LLC now owns 11,734,790 shares of the utilities provider’s stock valued at $473,381,000 after buying an additional 156,958 shares during the period. Goldman Sachs Group Inc. boosted its position in NiSource by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,535,924 shares of the utilities provider’s stock valued at $221,935,000 after purchasing an additional 2,605,923 shares during the period. Finally, Northern Trust Corp grew its position in NiSource by 4.7% in the 1st quarter. Northern Trust Corp now owns 4,638,973 shares of the utilities provider’s stock worth $185,976,000 after purchasing an additional 206,448 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Price Performance

NYSE NI opened at $43.53 on Friday. The stock has a market capitalization of $20.77 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 3.13 and a beta of 0.62. The company has a 50 day moving average price of $42.34 and a two-hundred day moving average price of $41.04. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 1.29. NiSource, Inc has a 12-month low of $35.09 and a 12-month high of $44.88.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). NiSource had a return on equity of 8.09% and a net margin of 14.15%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $983.25 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.07 EPS. FY 2025 guidance at 1.870-1.89 EPS. As a group, equities analysts predict that NiSource, Inc will post 1.91 earnings per share for the current fiscal year.

NiSource Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 31st. NiSource’s payout ratio is 59.26%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NI shares. Barclays upped their price target on shares of NiSource from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of NiSource in a research report on Wednesday, October 8th. Zacks Research upgraded shares of NiSource to a “hold” rating in a research report on Monday, August 11th. Wells Fargo & Company raised NiSource to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group raised shares of NiSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $50.00 in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.78.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.