NiSource, Inc $NI Position Cut by Drake & Associates LLC

Drake & Associates LLC reduced its holdings in NiSource, Inc (NYSE:NI) by 28.8% during the 4th quarter, Holdings Channel reports. The fund owned 40,095 shares of the utilities provider’s stock after selling 16,197 shares during the quarter. Drake & Associates LLC’s holdings in NiSource were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised 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 acquiring an additional 8,240,227 shares in the last quarter. Compound Planning Inc. grew its stake in shares of NiSource by 3.7% in the fourth quarter. Compound Planning Inc. now owns 15,045 shares of the utilities provider’s stock worth $628,000 after purchasing an additional 535 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of NiSource by 96.3% in the fourth quarter. Corient Private Wealth LLC now owns 138,863 shares of the utilities provider’s stock worth $5,491,000 after purchasing an additional 68,119 shares in the last quarter. Strive Financial Group LLC acquired a new position in shares of NiSource during the fourth quarter valued at $26,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of NiSource by 35.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 40,276 shares of the utilities provider’s stock valued at $1,682,000 after purchasing an additional 10,636 shares during the period. Institutional investors own 91.64% of the company’s stock.

NiSource Stock Up 0.9%

NI opened at $47.20 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65. The company has a market capitalization of $22.63 billion, a PE ratio of 23.48, a P/E/G ratio of 3.73 and a beta of 0.54. The stock’s fifty day moving average is $47.22 and its 200-day moving average is $45.33. NiSource, Inc has a one year low of $38.45 and a one year high of $48.98.

NiSource (NYSE:NI) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same quarter last year, the business posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities analysts predict that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend payout ratio is presently 59.70%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NI shares. Barclays lifted their price objective on shares of NiSource from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Citigroup raised their target price on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. KeyCorp began coverage on shares of NiSource in a research note on Tuesday, March 31st. They issued an “overweight” rating and a $52.00 price target for the company. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $51.00 price objective on shares of NiSource in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

Insider Activity

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of NiSource stock in a transaction that occurred on 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 owned 117,899 shares in the company, valued at approximately $5,563,653.81. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total transaction of $715,200.00. Following the completion of the transaction, the executive vice president owned 35,990 shares in the company, valued at approximately $1,716,003.20. This trade represents a 29.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 27,500 shares of company stock valued at $1,305,675. Insiders own 0.37% of the company’s stock.

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.