Summit Global Investments Takes Position in NiSource, Inc $NI

Summit Global Investments purchased a new position in shares of NiSource, Inc (NYSE:NI) in the second quarter, Holdings Channel.com reports. The fund purchased 71,984 shares of the utilities provider’s stock, valued at approximately $3,423,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Dockside LLC acquired a new stake in NiSource in the second quarter valued at about $2,740,000. Tema ETFs LLC raised its stake in NiSource by 45.3% during the second quarter. Tema ETFs LLC now owns 533,936 shares of the utilities provider’s stock worth $25,389,000 after acquiring an additional 166,373 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of NiSource by 1.1% in the second quarter. Contravisory Investment Management Inc. now owns 24,118 shares of the utilities provider’s stock worth $1,147,000 after acquiring an additional 254 shares during the last quarter. HF Advisory Group LLC boosted its stake in shares of NiSource by 6.6% in the 2nd quarter. HF Advisory Group LLC now owns 69,432 shares of the utilities provider’s stock valued at $3,301,000 after purchasing an additional 4,312 shares in the last quarter. Finally, Everpar Advisors LLC boosted its stake in shares of NiSource by 22.0% in the 2nd quarter. Everpar Advisors LLC now owns 5,985 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 1,079 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NiSource

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $47.68, for a total value of $715,200.00. Following the sale, the executive vice president owned 35,990 shares in the company, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Melody Birmingham sold 2,500 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $47.43, for a total value of $118,575.00. Following the completion of the sale, the executive vice president directly owned 116,036 shares of the company’s stock, valued at approximately $5,503,587.48. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NI has been the subject of a number of research analyst reports. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a research report on Tuesday, July 21st. BMO Capital Markets decreased 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. Wells Fargo & Company upped their price target on shares of NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Citigroup increased their price target on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.70.

NiSource Trading Up 0.9%

Shares of NYSE NI opened at $42.47 on Friday. 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, Inc has a 52-week low of $38.45 and a 52-week high of $49.21. The firm has a 50 day moving average price of $45.95 and a two-hundred day moving average price of $46.35. The stock has a market cap of $20.37 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 3.13 and a beta of 0.55.

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

NiSource Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s dividend payout ratio (DPR) is currently 63.83%.

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.