Magellan Asset Management Ltd Increases Stock Position in NiSource, Inc $NI

Magellan Asset Management Ltd boosted its position in shares of NiSource, Inc (NYSE:NI) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,164 shares of the utilities provider’s stock after purchasing an additional 25,721 shares during the period. Magellan Asset Management Ltd owned approximately 0.08% of NiSource worth $15,985,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NI. Verdence Capital Advisors LLC grew its stake in shares of NiSource by 1.7% during the third quarter. Verdence Capital Advisors LLC now owns 14,319 shares of the utilities provider’s stock valued at $626,000 after acquiring an additional 245 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in NiSource by 4.5% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 5,750 shares of the utilities provider’s stock valued at $232,000 after purchasing an additional 250 shares during the last quarter. Bank of Nova Scotia boosted its holdings in NiSource by 0.5% in the second quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock valued at $1,986,000 after purchasing an additional 266 shares during the last quarter. Shepherd Financial Partners LLC grew its stake in NiSource by 3.9% during the 2nd quarter. Shepherd Financial Partners LLC now owns 7,656 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 285 shares in the last quarter. Finally, 1834 Investment Advisors Co. increased its holdings in NiSource by 1.4% during the 3rd quarter. 1834 Investment Advisors Co. now owns 23,895 shares of the utilities provider’s stock worth $1,035,000 after purchasing an additional 330 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on NI shares. Wall Street Zen lowered NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. UBS Group upped their price target on shares of NiSource from $45.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Evercore increased their price objective on shares of NiSource from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Jefferies Financial Group raised shares of NiSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $50.00 in a report on Friday, October 31st. Finally, BMO Capital Markets set a $50.00 target price on shares of NiSource in a research note on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.20.

NiSource Stock Performance

NiSource stock opened at $46.44 on Wednesday. The company has a market cap of $22.22 billion, a PE ratio of 23.81, a P/E/G ratio of 3.79 and a beta of 0.65. The company has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $42.80. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.69 and a quick ratio of 0.56. NiSource, Inc has a 12 month low of $35.64 and a 12 month high of $47.05.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, February 11th. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. NiSource had a net margin of 13.99% and a return on equity of 8.07%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company earned $0.49 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Research analysts expect that NiSource, Inc will post 1.91 earnings per share for the current year.

NiSource Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Tuesday, February 3rd were paid a $0.30 dividend. The ex-dividend date was Tuesday, February 3rd. This is an increase from NiSource’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. NiSource’s payout ratio is presently 61.54%.

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.