Magellan Asset Management Ltd Raises Stake in NiSource, Inc $NI

Magellan Asset Management Ltd raised its stake in NiSource, Inc (NYSE:NI) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 399,089 shares of the utilities provider’s stock after buying an additional 29,925 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.08% of NiSource worth $16,666,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. purchased a new stake in shares of NiSource in the 4th quarter valued at approximately $30,000. REAP Financial Group LLC purchased a new stake in shares of NiSource in the 3rd quarter valued at approximately $32,000. Elyxium Wealth LLC purchased a new stake in shares of NiSource in the 4th quarter valued at approximately $33,000. Laurel Wealth Advisors LLC purchased a new stake in shares of NiSource in the 4th quarter valued at approximately $46,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of NiSource in the 3rd quarter valued at approximately $52,000. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

NiSource Stock Performance

NYSE:NI opened at $45.86 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65. The stock has a market capitalization of $21.99 billion, a P/E ratio of 22.82, a PEG ratio of 3.63 and a beta of 0.54. The company has a 50 day moving average price of $47.20 and a 200 day moving average price of $45.08. NiSource, Inc has a fifty-two week low of $38.45 and a fifty-two week high of $48.98.

NiSource (NYSE:NI) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.06. The firm 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 quarter last year, the company posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities research analysts forecast that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. NiSource’s dividend payout ratio (DPR) is presently 59.70%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NI shares. Evercore set a $52.00 price target on shares of NiSource in a research note on Monday, May 11th. Wells Fargo & Company increased their price target on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. BMO Capital Markets reissued an “outperform” rating and issued a $51.00 price target on shares of NiSource in a research note on Monday, April 20th. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, KeyCorp started coverage on shares of NiSource in a research note on Tuesday, March 31st. They issued an “overweight” rating and a $52.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.33.

Insider Buying and Selling

In related news, EVP Melody Birmingham sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total transaction of $471,900.00. Following the completion of the transaction, the executive vice president owned 117,899 shares of the company’s stock, valued at approximately $5,563,653.81. This trade represents a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,716,003.20. The trade was a 29.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,500 shares of company stock valued at $1,305,675 in the last ninety days. 0.37% of the stock is currently owned by corporate insiders.

NiSource Company 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.