Goldman Sachs Group Inc. Decreases Stock Position in NiSource, Inc $NI

Goldman Sachs Group Inc. trimmed its position in shares of NiSource, Inc (NYSE:NI) by 16.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,531,175 shares of the utilities provider’s stock after selling 694,252 shares during the quarter. Goldman Sachs Group Inc.’s holdings in NiSource were worth $147,462,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in NiSource by 60.1% in the 1st quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider’s stock valued at $1,223,000 after purchasing an additional 11,452 shares in the last quarter. Woodline Partners LP grew its holdings in shares of NiSource by 41.6% during the first 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 acquired a new stake in shares of NiSource in the first quarter valued at about $105,000. Bank of Nova Scotia lifted its stake in shares of NiSource by 0.5% in the second 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 in the second quarter worth about $1,054,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NI shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $51.00 price objective on shares of NiSource in a research note on Monday, April 20th. Weiss Ratings lowered shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup upped their price target on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, KeyCorp assumed coverage on NiSource in a report on Tuesday, March 31st. They issued an “overweight” rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, NiSource has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Insider Buying and Selling

In related news, 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 value of $715,200.00. Following the completion of the transaction, the executive vice president directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. This represents a 29.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Melody Birmingham sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total value 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 $5,563,653.81. The trade was a 7.82% 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 worth $1,305,675 over the last quarter. 0.37% of the stock is currently owned by insiders.

NiSource Trading Down 0.0%

Shares of NI opened at $46.60 on Monday. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $48.98. The firm has a market capitalization of $22.34 billion, a P/E ratio of 23.19, a P/E/G ratio of 3.72 and a beta of 0.54. The firm has a 50-day moving average price of $47.22 and a 200 day moving average price of $45.11. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30.

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

NiSource Dividend Announcement

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

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.