Truist Financial Corp Cuts Stake in NiSource, Inc $NI

Truist Financial Corp lowered its position in shares of NiSource, Inc (NYSE:NI) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,159 shares of the utilities provider’s stock after selling 11,349 shares during the quarter. Truist Financial Corp’s holdings in NiSource were worth $2,387,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NI. NewEdge Advisors LLC raised its stake in shares of NiSource by 60.1% during the 1st quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider’s stock worth $1,223,000 after buying an additional 11,452 shares in the last quarter. Woodline Partners LP raised its stake in shares of NiSource by 41.6% during the 1st quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider’s stock worth $1,592,000 after buying an additional 11,671 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of NiSource during the 1st quarter worth approximately $105,000. Bank of Nova Scotia raised its stake in shares of NiSource by 0.5% during the 2nd quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock worth $1,986,000 after buying an additional 266 shares in the last quarter. Finally, AXA S.A. purchased a new position in shares of NiSource during the 2nd quarter worth approximately $1,054,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Stock Performance

NYSE NI opened at $47.01 on Thursday. NiSource, Inc has a 1-year low of $37.22 and a 1-year high of $48.98. The company has a market capitalization of $22.54 billion, a P/E ratio of 23.39, a PEG ratio of 3.77 and a beta of 0.57. The business has a 50 day moving average price of $47.14 and a 200 day moving average price of $44.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the business posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Sell-side 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. Shareholders of record on Friday, July 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is 59.70%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Weiss Ratings downgraded shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. KeyCorp started coverage on shares of NiSource in a report on Tuesday, March 31st. They issued an “overweight” rating and a $52.00 price target for the company. Evercore set a $52.00 price target on shares of NiSource in a report on Monday. Finally, 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 report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.33.

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.