858,650 Shares in NiSource, Inc $NI Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in NiSource, Inc (NYSE:NI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 858,650 shares of the utilities provider’s stock, valued at approximately $40,829,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of NiSource by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock worth $2,606,180,000 after purchasing an additional 1,032,630 shares during the period. BlackRock Inc. bought a new position in NiSource during the second quarter valued at about $2,613,234,000. T. Rowe Price Investment Management Inc. increased its holdings 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 buying an additional 8,240,227 shares during the last quarter. State Street Corp increased its holdings in NiSource by 4.5% during the fourth quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock worth $1,116,459,000 after buying an additional 1,154,351 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in NiSource by 55,625.2% in the second 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 period. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Performance

Shares of NI stock opened at $41.15 on Thursday. The stock has a market capitalization of $19.73 billion, a P/E ratio of 21.89, a PEG ratio of 3.02 and a beta of 0.55. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $45.08 and its 200 day moving average is $46.21. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $49.21.

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

NiSource Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, October 30th. NiSource’s payout ratio is presently 63.83%.

Insider Transactions at NiSource

In related news, EVP Melody Birmingham sold 37,509 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the sale, the executive vice president owned 78,527 shares of the company’s stock, valued at approximately $3,329,544.80. This represents a 32.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NI shares. BMO Capital Markets dropped their target price on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Barclays lowered their price target on shares of NiSource from $51.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Evercore set a $52.00 price objective on NiSource in a research note on Monday, May 11th. Wells Fargo & Company increased their price objective on NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, LADENBURG THALM/SH SH decreased their target price on NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

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.