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

Magellan Asset Management Ltd raised its holdings in NiSource, Inc (NYSE:NI) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 399,089 shares of the utilities provider’s stock after acquiring an additional 29,925 shares during the quarter. Magellan Asset Management Ltd’s holdings in NiSource were worth $16,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tower Bridge Advisors boosted its position in NiSource by 1.1% in the 3rd quarter. Tower Bridge Advisors now owns 21,132 shares of the utilities provider’s stock valued at $915,000 after buying an additional 232 shares during the period. Choreo LLC boosted its position in NiSource by 2.7% in the 4th quarter. Choreo LLC now owns 8,769 shares of the utilities provider’s stock valued at $369,000 after buying an additional 234 shares during the period. Advisory Services Network LLC boosted its position in NiSource by 1.6% in the 3rd quarter. Advisory Services Network LLC now owns 14,951 shares of the utilities provider’s stock valued at $647,000 after buying an additional 234 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in NiSource by 1.6% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 15,247 shares of the utilities provider’s stock valued at $637,000 after buying an additional 240 shares during the period. Finally, Prosperity Consulting Group LLC boosted its position in NiSource by 1.1% in the 3rd quarter. Prosperity Consulting Group LLC now owns 23,565 shares of the utilities provider’s stock valued at $1,020,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Buying and Selling at NiSource

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the firm’s stock in a transaction 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 approximately $1,716,003.20. This trade represents a 29.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Melody Birmingham sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total transaction 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 SEC filing for this sale provides additional information. Insiders have sold a total of 27,500 shares of company stock worth $1,305,675 over the last three months. 0.37% of the stock is currently owned by insiders.

NiSource Price Performance

Shares of NYSE:NI opened at $45.86 on Friday. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $48.98. 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 firm has a market capitalization of $21.99 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.63 and a beta of 0.54. The company’s fifty day moving average price is $47.20 and its 200 day moving average price is $45.08.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. NiSource had a net margin of 14.15% and a return on equity of 8.31%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the firm posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, sell-side analysts predict that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is presently 59.70%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Evercore set a $52.00 price target on shares of NiSource in a research report on Monday, May 11th. KeyCorp initiated coverage on shares of NiSource in a report on Tuesday, March 31st. They issued an “overweight” rating and a $52.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.33.

NiSource 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.