Meeder Advisory Services Inc. Purchases New Stake in NiSource, Inc $NI

Meeder Advisory Services Inc. bought a new position in shares of NiSource, Inc (NYSE:NI) in the 2nd quarter, HoldingsChannel reports. The fund bought 41,807 shares of the utilities provider’s stock, valued at approximately $1,988,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NI. Vanguard Group Inc. boosted its position in shares of NiSource by 1.7% during 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 buying an additional 1,032,630 shares during the last quarter. BlackRock Inc. purchased a new stake in NiSource in the 2nd quarter valued at $2,613,234,000. T. Rowe Price Investment Management Inc. lifted 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. State Street Corp lifted its stake in NiSource by 4.5% during 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 acquiring an additional 1,154,351 shares in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in NiSource by 55,625.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock worth $680,411,000 after acquiring an additional 16,836,630 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Melanie B. Berman sold 15,000 shares of the company’s 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 of the company’s stock, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. This trade represents a 32.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is owned by insiders.

NiSource Trading Down 0.5%

Shares of NiSource stock opened at $42.15 on Wednesday. The company’s 50-day moving average price is $45.79 and its 200-day moving average price is $46.33. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $49.21. The company has a market cap of $20.21 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 3.16 and a beta of 0.55.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.15 billion. NiSource had a net margin of 13.20% and a return on equity of 7.95%. During the same quarter in the previous year, the company earned $0.22 earnings per share. 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 fiscal year.

NiSource Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 30th. NiSource’s payout ratio is 63.83%.

Analysts Set New Price Targets

Several analysts have recently commented on NI shares. Wells Fargo & Company increased their target price on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Evercore set a $52.00 price target on NiSource in a research report on Monday, May 11th. LADENBURG THALM/SH SH cut their price objective on shares of NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a report on Monday. KeyCorp cut their price target on NiSource from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Finally, Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

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.