Nippon Life Global Investors Americas Inc. Purchases New Stake in NiSource, Inc $NI

Nippon Life Global Investors Americas Inc. acquired a new position in shares of NiSource, Inc (NYSE:NI) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 13,670 shares of the utilities provider’s stock, valued at approximately $650,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strive Financial Group LLC bought a new stake in NiSource during the fourth quarter valued at $26,000. Zions Bancorporation National Association UT lifted its position in shares of NiSource by 113.8% in 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 last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of NiSource in the 4th quarter worth about $27,000. DV Equities LLC acquired a new position in shares of NiSource in the 4th quarter valued at about $28,000. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of NiSource during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Melody Birmingham sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total transaction of $118,575.00. Following the transaction, the executive vice president directly owned 116,036 shares of the company’s stock, valued at approximately $5,503,587.48. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $715,200.00. Following the completion of the sale, the executive vice president directly owned 35,990 shares of the company’s stock, valued at $1,716,003.20. The trade was a 29.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NI. Royal Bank Of Canada started coverage on shares of NiSource in a research note on Wednesday, July 1st. They set an “outperform” rating and a $52.00 price objective on the stock. KeyCorp lowered their target price on NiSource from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. BMO Capital Markets dropped their price target on NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Barclays cut their price target on NiSource from $51.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Citigroup boosted 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. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.70.

NiSource Stock Performance

Shares of NYSE NI opened at $42.47 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $45.95 and a 200-day simple moving average of $46.36. The company has a market cap of $20.37 billion, a PE ratio of 22.59, a P/E/G ratio of 3.16 and a beta of 0.55. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $49.21.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.15 billion. NiSource had a return on equity of 7.95% and a net margin of 13.20%.During the same period last year, the firm earned $0.22 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities research analysts forecast that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. NiSource’s dividend payout ratio is presently 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.