Magellan Asset Management Ltd Acquires Shares of 532,855 NiSource, Inc $NI

Magellan Asset Management Ltd bought a new position in NiSource, Inc (NYSE:NI) in the 2nd quarter, Holdings Channel.com reports. The firm bought 532,855 shares of the utilities provider’s stock, valued at approximately $25,337,000.

Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in shares of NiSource by 1.5% during the 4th quarter. Advisory Services Network LLC now owns 15,171 shares of the utilities provider’s stock worth $634,000 after buying an additional 220 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in NiSource by 1.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,864 shares of the utilities provider’s stock worth $788,000 after acquiring an additional 225 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in NiSource by 1.6% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 15,247 shares of the utilities provider’s stock valued at $637,000 after acquiring an additional 240 shares during the period. Prosperity Consulting Group LLC grew its stake in shares of NiSource by 1.1% during the 3rd quarter. Prosperity Consulting Group LLC now owns 23,565 shares of the utilities provider’s stock worth $1,020,000 after purchasing an additional 246 shares during the period. Finally, World Investment Advisors lifted its stake in shares of NiSource by 3.2% in the fourth quarter. World Investment Advisors now owns 7,871 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 247 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Up 0.0%

NI stock opened at $40.63 on Monday. The stock has a market capitalization of $19.48 billion, a P/E ratio of 21.61, a PEG ratio of 3.02 and a beta of 0.55. The company has a 50 day moving average price of $45.46 and a two-hundred day moving average price of $46.27. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. NiSource had a return on equity of 7.95% and a net margin of 13.20%.The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, sell-side analysts expect that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, October 30th. NiSource’s dividend payout ratio is presently 63.83%.

Insider Buying and Selling at NiSource

In related news, EVP Melody Birmingham sold 37,509 shares of NiSource 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 transaction, the executive vice president owned 78,527 shares in the company, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NI. Evercore set a $52.00 price objective on NiSource in a report on Monday, May 11th. KeyCorp cut their target price on shares of NiSource from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. LADENBURG THALM/SH SH reduced their price target on shares of NiSource from $51.50 to $51.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of NiSource in a research report on Tuesday, July 21st. Finally, BMO Capital Markets dropped their price objective on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, NiSource has an average rating of “Moderate Buy” and an average target price of $49.82.

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.