The Manufacturers Life Insurance Company Takes $40.83 Million Position in NiSource, Inc $NI

The Manufacturers Life Insurance Company acquired a new position in shares of NiSource, Inc (NYSE:NI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 858,650 shares of the utilities provider’s stock, valued at approximately $40,829,000. The Manufacturers Life Insurance Company owned 0.18% of NiSource as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in NiSource in the second quarter valued at $2,613,234,000. BNP Paribas Financial Markets boosted its position in shares of NiSource by 41.7% during the 4th quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider’s stock worth $37,228,000 after purchasing an additional 262,483 shares in the last quarter. Norges Bank acquired a new stake in shares of NiSource in the 4th quarter valued at about $336,852,000. Reaves W H & Co. Inc. grew its stake in shares of NiSource by 8.3% in the 4th 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 period. Finally, De Lisle Partners LLP bought a new stake in NiSource in the 4th quarter valued at about $4,176,000. Institutional investors own 91.64% of the company’s stock.

NiSource Price Performance

NI stock opened at $41.15 on Thursday. The company has a market capitalization of $19.73 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. NiSource, Inc has a 52-week low of $38.45 and a 52-week high of $49.21. The business has a 50-day simple moving average of $45.08 and a two-hundred day simple moving average of $46.21.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.15 billion. NiSource had a return on equity of 7.95% and a net margin of 13.20%.During the same period in the prior year, the business posted $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Research analysts expect that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s payout ratio is currently 63.83%.

Wall Street Analysts Forecast Growth

NI has been the topic of several recent research reports. Mizuho cut their price target on NiSource from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup boosted their price objective on NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Royal Bank Of Canada initiated coverage on NiSource in a research report on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price on the stock. LADENBURG THALM/SH SH cut their target price on NiSource from $51.50 to $51.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Finally, Wells Fargo & Company lifted their price target on shares of NiSource from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.64.

Insider Transactions at NiSource

In other news, EVP Melody Birmingham sold 37,509 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the completion of the sale, the executive vice president owned 78,527 shares in the company, valued at $3,329,544.80. This represents a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.