Magellan Asset Management Ltd Increases Position in NiSource, Inc $NI

Magellan Asset Management Ltd increased its holdings in NiSource, Inc (NYSE:NI) by 24.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 497,581 shares of the utilities provider’s stock after purchasing an additional 98,492 shares during the quarter. Magellan Asset Management Ltd owned 0.10% of NiSource worth $23,217,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT boosted its holdings in NiSource by 113.8% in 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 during the last quarter. Strive Financial Group LLC acquired a new position in shares of NiSource during the fourth quarter valued at approximately $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of NiSource in the fourth quarter valued at approximately $27,000. DV Equities LLC purchased a new position in shares of NiSource in the fourth quarter valued at approximately $28,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of NiSource in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Insider Transactions at NiSource

In other NiSource news, EVP Melody Birmingham sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total transaction of $118,575.00. Following the transaction, the executive vice president owned 116,036 shares in the company, valued at approximately $5,503,587.48. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the business’s 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 sale, the executive vice president owned 35,990 shares in the company, valued at $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,500 shares of company stock valued at $1,305,675 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NI. Evercore set a $52.00 price target on NiSource in a research report on Monday, May 11th. BMO Capital Markets lowered their price objective on NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup upped their target price on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Royal Bank Of Canada initiated coverage on NiSource in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 target price for the company. Finally, KeyCorp started coverage on NiSource in a report on Tuesday, March 31st. They set an “overweight” rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.50.

NiSource Price Performance

NiSource stock opened at $45.32 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30. NiSource, Inc has a 52-week low of $38.45 and a 52-week high of $49.21. The firm has a market cap of $21.73 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 3.38 and a beta of 0.55. The company’s 50 day moving average is $46.92 and its two-hundred day moving average is $46.19.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.52 billion. NiSource had a net margin of 14.15% and a return on equity of 8.31%. During the same period in the previous year, the company earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, research analysts expect that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend payout ratio is presently 59.70%.

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.