CI Investments Inc. Has $6.74 Million Position in NiSource, Inc $NI

CI Investments Inc. lifted its holdings in shares of NiSource, Inc (NYSE:NI) by 215.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 144,399 shares of the utilities provider’s stock after purchasing an additional 98,589 shares during the period. CI Investments Inc.’s holdings in NiSource were worth $6,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NI. Zions Bancorporation National Association UT lifted its position in NiSource by 113.8% during the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock worth $26,000 after buying an additional 330 shares in the last quarter. Strive Financial Group LLC acquired a new stake in NiSource in the 4th quarter valued at about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in NiSource in the 4th quarter valued at about $27,000. Acumen Wealth Advisors LLC bought a new position in shares of NiSource in the fourth quarter worth about $28,000. Finally, DV Equities LLC acquired a new position in shares of NiSource during the fourth quarter worth approximately $28,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NiSource

In other news, EVP Melody Birmingham sold 2,500 shares of NiSource stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $47.43, for a total transaction of $118,575.00. Following the transaction, the executive vice president directly owned 116,036 shares of the company’s stock, valued at $5,503,587.48. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 27,500 shares of company stock worth $1,305,675. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

NI has been the topic of several research analyst reports. Barclays increased their price target on shares of NiSource from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup boosted their price objective on shares of NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. BMO Capital Markets reduced their price objective on NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Royal Bank Of Canada began coverage on NiSource in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.30.

NiSource Price Performance

Shares of NI opened at $46.71 on Friday. The stock has a market cap of $22.40 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 3.47 and a beta of 0.55. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.21. The stock’s 50-day moving average price is $46.89 and its two-hundred day moving average price is $46.26. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business posted $0.85 EPS. 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 earnings per share for the current year.

NiSource Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 2.6%. NiSource’s dividend payout ratio (DPR) is 59.70%.

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.