Cibc World Market Inc. Takes Position in NiSource, Inc $NI

Cibc World Market Inc. acquired a new stake in NiSource, Inc (NYSE:NI) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 94,384 shares of the utilities provider’s stock, valued at approximately $4,488,000.

Other hedge funds have also added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new position in shares of NiSource during the second quarter worth $26,000. Zions Bancorporation National Association UT lifted its holdings in NiSource by 113.8% during 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 period. Strive Financial Group LLC bought a new stake in shares of NiSource in the 4th quarter valued at about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of NiSource in the fourth quarter valued at about $27,000. Finally, DV Equities LLC bought a new position in shares of NiSource during the fourth quarter worth about $28,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the completion of the sale, the executive vice president directly owned 78,527 shares of the company’s stock, valued at $3,329,544.80. The trade was a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

NiSource Stock Performance

Shares of NiSource stock opened at $40.71 on Wednesday. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The firm has a market capitalization of $19.52 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.04 and a beta of 0.55. The business has a 50-day simple moving average of $45.19 and a 200 day simple moving average of $46.22. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41.

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

NiSource Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be issued 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 dividend payout ratio (DPR) is currently 63.83%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NI. Wells Fargo & Company raised 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. Weiss Ratings reissued a “buy (b)” rating on shares of NiSource in a research note on Tuesday, July 21st. Wall Street Zen downgraded NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup boosted their price objective on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Barclays decreased their target price on NiSource from $51.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.82.

NiSource 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.