Summit Global Investments Decreases Stake in NiSource, Inc $NI

Summit Global Investments reduced its position in NiSource, Inc (NYSE:NI) by 37.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 57,087 shares of the utilities provider’s stock after selling 34,159 shares during the period. Summit Global Investments’ holdings in NiSource were worth $2,664,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of NiSource by 60.1% in the first quarter. NewEdge Advisors LLC now owns 30,494 shares of the utilities provider’s stock worth $1,223,000 after purchasing an additional 11,452 shares in the last quarter. Woodline Partners LP lifted its stake in shares of NiSource by 41.6% during the 1st quarter. Woodline Partners LP now owns 39,703 shares of the utilities provider’s stock valued at $1,592,000 after buying an additional 11,671 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of NiSource during the 1st quarter valued at approximately $105,000. Bank of Nova Scotia boosted its holdings 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 buying an additional 266 shares during the period. Finally, AXA S.A. bought a new position in NiSource in the 2nd quarter worth approximately $1,054,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Stock Down 1.4%

NI opened at $45.33 on Tuesday. The firm has a market capitalization of $21.73 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 3.42 and a beta of 0.55. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The company has a fifty day moving average price of $46.95 and a 200-day moving average price of $46.17. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56.

NiSource (NYSE:NI) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same quarter last year, the business posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities research analysts expect that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Announces Dividend

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

Insider Activity

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was 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 of the company’s stock, valued at $1,716,003.20. This trade represents a 29.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Melody Birmingham sold 2,500 shares of NiSource stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $47.43, for a total value of $118,575.00. Following the sale, the executive vice president owned 116,036 shares of the company’s stock, valued at approximately $5,503,587.48. This trade represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,500 shares of company stock worth $1,305,675. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

NI has been the topic of a number of analyst reports. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Royal Bank Of Canada assumed coverage on NiSource in a report on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 price target for the company. Barclays lifted their price target on NiSource from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday. KeyCorp assumed coverage on NiSource in a research note on Tuesday, March 31st. They set an “overweight” rating and a $52.00 price objective on the stock. Finally, Citigroup increased their price objective on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, NiSource has an average rating of “Moderate Buy” and an average target price of $50.50.

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.