Magellan Asset Management Ltd Grows Stock Holdings in NiSource, Inc $NI

Magellan Asset Management Ltd increased its holdings in NiSource, Inc (NYSE:NI) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,581 shares of the utilities provider’s stock after purchasing an additional 98,492 shares during the period. Magellan Asset Management Ltd’s holdings in NiSource were worth $23,217,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in NiSource by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock valued at $2,606,180,000 after purchasing an additional 1,032,630 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in NiSource by 19.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider’s stock worth $2,150,818,000 after purchasing an additional 8,240,227 shares during the period. State Street Corp boosted its holdings in shares of NiSource by 4.5% in the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock valued at $1,116,459,000 after purchasing an additional 1,154,351 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of NiSource by 55,625.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock valued at $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of NiSource by 2.0% during the 4th 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. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Trading Down 0.1%

NiSource stock opened at $45.32 on Wednesday. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.21. The firm’s 50-day moving average is $46.92 and its 200-day moving average is $46.19. 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 cap of $21.73 billion, a P/E ratio of 22.55, a PEG ratio of 3.38 and a beta of 0.55.

NiSource (NYSE:NI) last announced 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. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities analysts expect that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. NiSource’s dividend payout ratio (DPR) is 59.70%.

Analyst Ratings Changes

A number of analysts recently issued reports on NI shares. Weiss Ratings downgraded shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, April 24th. BMO Capital Markets reduced their price target on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays boosted their price objective on shares of NiSource from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, 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. 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 company’s stock. According to data from MarketBeat, NiSource presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Insider Buying and Selling 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 stock was sold at an average price of $47.19, for a total transaction of $471,900.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total value of $715,200.00. Following the transaction, the executive vice president owned 35,990 shares in the company, valued at $1,716,003.20. This represents a 29.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 27,500 shares of company stock worth $1,305,675. 0.37% of the stock is owned by insiders.

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.