Kentucky Retirement Systems Acquires New Stake in NiSource, Inc $NI

Kentucky Retirement Systems acquired a new stake in shares of NiSource, Inc (NYSE:NI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,866 shares of the utilities provider’s stock, valued at approximately $1,207,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in NiSource in the fourth quarter worth about $336,852,000. BNP Paribas Financial Markets grew its holdings in shares of NiSource by 41.7% during the fourth quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider’s stock valued at $37,228,000 after buying an additional 262,483 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of NiSource by 8.3% during the fourth quarter. Reaves W H & Co. Inc. now owns 5,424,733 shares of the utilities provider’s stock valued at $226,537,000 after buying an additional 415,089 shares during the last quarter. De Lisle Partners LLP bought a new stake in shares of NiSource during the fourth quarter valued at approximately $4,176,000. Finally, Vestcor Inc increased its position in shares of NiSource by 320.7% during the fourth quarter. Vestcor Inc now owns 65,854 shares of the utilities provider’s stock valued at $2,750,000 after acquiring an additional 50,200 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup upped their price objective on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. BMO Capital Markets reduced their target price on NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Royal Bank Of Canada began coverage on NiSource in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 price target for the company. Finally, Evercore set a $52.00 price target on NiSource in a report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, NiSource presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.30.

Insider Buying and Selling at NiSource

In related news, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction 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 sale, the executive vice president owned 35,990 shares of the company’s stock, valued at $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Melody Birmingham sold 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total value of $471,900.00. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 27,500 shares of company stock worth $1,305,675 over the last three months. Insiders own 0.37% of the company’s stock.

NiSource Stock Down 1.2%

NI opened at $44.52 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average price of $46.69 and a 200-day moving average price of $46.38. NiSource, Inc has a twelve month low of $38.45 and a twelve month high of $49.21. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 3.30 and a beta of 0.55.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share for the quarter, meeting 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 quarter in the prior year, the firm earned $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities research analysts forecast that NiSource, Inc will post 2.08 earnings per share for the current year.

NiSource Announces Dividend

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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend 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.