OP Asset Management Ltd Invests $2.63 Million in NiSource, Inc $NI

OP Asset Management Ltd bought a new stake in NiSource, Inc (NYSE:NI) in the 1st quarter, HoldingsChannel.com reports. The firm bought 56,354 shares of the utilities provider’s stock, valued at approximately $2,629,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strive Financial Group LLC bought a new position in NiSource in the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT grew its stake in NiSource by 113.8% in the fourth quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 330 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of NiSource during the fourth quarter valued at approximately $27,000. DV Equities LLC bought a new stake in shares of NiSource during the fourth quarter valued at approximately $28,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of NiSource during the fourth quarter worth approximately $28,000. 91.64% of the stock is owned by institutional investors.

NiSource Stock Performance

NYSE NI opened at $48.98 on Friday. NiSource, Inc has a 1 year low of $38.45 and a 1 year high of $49.08. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56. The firm has a market cap of $23.48 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 3.92 and a beta of 0.54. The company has a fifty day moving average price of $47.23 and a 200-day moving average price of $45.54.

NiSource (NYSE:NI) last released its quarterly earnings results 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 analyst estimates of $2.52 billion. During the same period last year, the firm earned $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities research analysts predict that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. NiSource’s dividend payout ratio (DPR) is currently 59.70%.

Insider Activity at NiSource

In other news, EVP Melody Birmingham sold 10,000 shares of the company’s 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 directly owned 117,899 shares of the company’s stock, valued at $5,563,653.81. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total value of $715,200.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 27,500 shares of company stock worth $1,305,675. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NI has been the topic of a number of recent research reports. Evercore set a $52.00 target price on NiSource in a report on Monday, May 11th. Wall Street Zen downgraded shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Citigroup raised their price objective on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $51.00 price objective on shares of NiSource in a report on Monday, April 20th. One investment 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 company. According to data from MarketBeat, NiSource currently has an average rating of “Moderate Buy” and an average target price of $50.33.

NiSource Company 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.