3,782,091 Shares in NiSource, Inc $NI Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in shares of NiSource, Inc (NYSE:NI) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,782,091 shares of the utilities provider’s stock, valued at approximately $179,838,000.

A number of other institutional investors have also recently added to or reduced their stakes in NI. Vanguard Group Inc. grew its position in NiSource by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock worth $2,606,180,000 after acquiring an additional 1,032,630 shares in the last quarter. BlackRock Inc. acquired a new position in shares of NiSource during the 2nd quarter worth $2,613,234,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of NiSource by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider’s stock valued at $2,150,818,000 after purchasing an additional 8,240,227 shares in the last quarter. State Street Corp raised its holdings in shares of NiSource by 4.5% during the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock valued at $1,116,459,000 after purchasing an additional 1,154,351 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its stake in shares of NiSource by 55,625.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock valued at $680,411,000 after purchasing an additional 16,836,630 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Price Performance

NYSE NI opened at $41.15 on Thursday. NiSource, Inc has a 52-week low of $38.45 and a 52-week high of $49.21. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.41 and a current ratio of 0.50. The business has a 50 day simple moving average of $45.08 and a 200 day simple moving average of $46.21. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 3.02 and a beta of 0.55.

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

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. NiSource’s dividend payout ratio (DPR) is presently 63.83%.

Insider Buying and Selling

In other NiSource news, EVP Melody Birmingham sold 37,509 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $42.40, for a total transaction of $1,590,381.60. Following the transaction, the executive vice president owned 78,527 shares of the company’s stock, valued at $3,329,544.80. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NI shares. Barclays lowered 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. LADENBURG THALM/SH SH reduced their price objective on NiSource from $51.50 to $51.00 and set a “buy” rating for the company in a research report on Monday, August 17th. BMO Capital Markets decreased their target price on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Mizuho dropped their price objective on NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average price target of $49.64.

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.