Norges Bank Buys Shares of 8,066,389 NiSource, Inc $NI

by · The Cerbat Gem

Norges Bank bought a new stake in NiSource, Inc (NYSE:NI – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 8,066,389 shares of the utilities provider’s stock, valued at approximately $336,852,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. purchased a new position in NiSource in the fourth quarter valued at about $2,572,000. National Pension Service increased its holdings in NiSource by 49.5% in the fourth quarter. National Pension Service now owns 15,150 shares of the utilities provider’s stock valued at $633,000 after buying an additional 5,017 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of NiSource during the 4th quarter worth approximately $650,000. Godfrey Financial Associates Inc. purchased a new position in shares of NiSource during the 4th quarter worth approximately $30,000. Finally, Geode Capital Management LLC increased its stake in shares of NiSource by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 12,459,421 shares of the utilities provider’s stock worth $518,301,000 after purchasing an additional 245,110 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Down 2.3%

NI stock opened at $45.17 on Tuesday. The stock has a market capitalization of $21.65 billion, a P/E ratio of 22.47, a PEG ratio of 3.69 and a beta of 0.57. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65. NiSource, Inc has a one year low of $38.45 and a one year high of $48.98. The company has a 50 day moving average price of $47.17 and a two-hundred day moving average price of $45.03.

NiSource (NYSE:NI – Get Free Report) last announced 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. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.52 billion. NiSource had a net margin of 14.15% and a return on equity of 8.31%. During the same quarter last year, the business earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, sell-side analysts expect that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is 59.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. BMO Capital Markets reissued an “outperform” rating and set a $51.00 price objective on shares of NiSource in a research note on Monday, April 20th. Citigroup raised their price objective on shares of NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Evercore set a $52.00 price objective on shares of NiSource in a research note on Monday, May 11th. Finally, Wells Fargo & Company raised their price objective on shares of NiSource from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.33.

Read Our Latest Research Report on NiSource

Insiders Place Their Bets

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of NiSource stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total value of $471,900.00. Following the transaction, the executive vice president owned 117,899 shares in the company, valued at $5,563,653.81. This trade represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total transaction of $715,200.00. Following the transaction, the executive vice president owned 35,990 shares in the company, 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. In the last quarter, insiders sold 27,500 shares of company stock worth $1,305,675. 0.37% of the stock is owned by company insiders.

NiSource Company Profile

(Free Report)

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.

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