Bank of New York Mellon Corp Lowers Stake in NiSource, Inc $NI

Bank of New York Mellon Corp lowered its holdings in shares of NiSource, Inc (NYSE:NI) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,129,230 shares of the utilities provider’s stock after selling 118,226 shares during the period. Bank of New York Mellon Corp owned approximately 0.65% of NiSource worth $146,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of NiSource by 60.1% during the first quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider’s stock valued at $1,223,000 after acquiring an additional 11,452 shares in the last quarter. Woodline Partners LP raised its position in shares of NiSource by 41.6% in the 1st quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider’s stock worth $1,592,000 after purchasing an additional 11,671 shares during the last quarter. Acadian Asset Management LLC bought a new position in NiSource in the 1st quarter worth about $105,000. Bank of Nova Scotia boosted its stake in NiSource by 0.5% in the 2nd quarter. Bank of Nova Scotia now owns 49,220 shares of the utilities provider’s stock worth $1,986,000 after purchasing an additional 266 shares in the last quarter. Finally, AXA S.A. purchased a new stake in NiSource during the 2nd quarter valued at about $1,054,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NI shares. BMO Capital Markets reduced their price target on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank Of Canada initiated coverage on NiSource in a research note on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price on the stock. Weiss Ratings lowered NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. Barclays boosted their price target on NiSource from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, KeyCorp initiated coverage on NiSource in a report on Tuesday, March 31st. They set an “overweight” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.30.

NiSource Price Performance

Shares of NI opened at $45.93 on Monday. The firm has a market cap of $22.02 billion, a PE ratio of 22.85, a P/E/G ratio of 3.42 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $46.99 and a two-hundred day simple moving average of $46.15. NiSource, Inc has a 1-year low of $38.45 and a 1-year high of $49.21.

NiSource (NYSE:NI) last posted its quarterly earnings data 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 return on equity of 8.31% and a net margin of 14.15%.The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, equities analysts anticipate that NiSource, Inc will post 2.05 EPS for the current year.

NiSource Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, July 31st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, July 31st. NiSource’s dividend payout ratio (DPR) is 59.70%.

Insider Activity at NiSource

In related news, EVP Melody Birmingham sold 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.19, for a total transaction of $471,900.00. Following the sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Melanie B. Berman sold 15,000 shares of the stock in a transaction 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 owned 35,990 shares in the company, valued at $1,716,003.20. The trade was a 29.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,500 shares of company stock valued at $1,305,675 over the last 90 days. 0.37% of the stock is currently 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.