SBI Okasan Asset Management Co.Ltd. Invests $650,000 in NiSource, Inc $NI

SBI Okasan Asset Management Co.Ltd. bought a new position in NiSource, Inc (NYSE:NI) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,500 shares of the utilities provider’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new position in NiSource in the fourth quarter worth about $30,000. REAP Financial Group LLC purchased a new position in NiSource in the third quarter worth about $32,000. Elyxium Wealth LLC purchased a new position in NiSource in the fourth quarter worth about $33,000. Laurel Wealth Advisors LLC purchased a new position in NiSource in the fourth quarter worth about $46,000. Finally, Sentry Investment Management LLC purchased a new position in NiSource in the third quarter worth about $52,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Trading Down 1.2%

NI opened at $46.21 on Friday. The stock has a market cap of $22.16 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 3.73 and a beta of 0.57. The stock’s 50 day moving average price is $47.20 and its 200-day moving average price is $45.01. NiSource, Inc has a one year low of $38.45 and a one year high of $48.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65.

NiSource (NYSE:NI) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $2.36 billion for 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 in the prior year, the firm posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities analysts forecast that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. NiSource’s dividend payout ratio is currently 59.70%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. KeyCorp assumed coverage on NiSource in a research report on Tuesday, March 31st. They issued an “overweight” rating and a $52.00 price target for the company. Barclays lifted their price target on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $51.00 price target on shares of NiSource in a research report on Monday, April 20th. Evercore set a $52.00 price target on NiSource in a research report on Monday, May 11th. Finally, Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One 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 company’s stock. According to MarketBeat.com, NiSource has an average rating of “Moderate Buy” and a consensus target price of $50.33.

Insider Buying and Selling

In other news, EVP Melody Birmingham sold 10,000 shares of the company’s stock in a transaction that occurred 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 owned 117,899 shares of the company’s stock, valued at approximately $5,563,653.81. This represents 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 link. Also, EVP Melanie B. Berman sold 15,000 shares of the company’s stock in a transaction that occurred 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 directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 27,500 shares of company stock worth $1,305,675. Insiders own 0.37% of the company’s stock.

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.