Washington Trust Bank Has $7.36 Million Holdings in NiSource, Inc $NI

Washington Trust Bank decreased its stake in NiSource, Inc (NYSE:NI) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,810 shares of the utilities provider’s stock after selling 21,019 shares during the quarter. Washington Trust Bank’s holdings in NiSource were worth $7,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. New Mexico Educational Retirement Board grew its position in shares of NiSource by 9.6% during the 2nd quarter. New Mexico Educational Retirement Board now owns 23,900 shares of the utilities provider’s stock worth $1,136,000 after buying an additional 2,100 shares during the period. Royal London Asset Management Ltd. raised its position in shares of NiSource by 1.4% in the 2nd quarter. Royal London Asset Management Ltd. now owns 398,147 shares of the utilities provider’s stock valued at $18,932,000 after acquiring an additional 5,427 shares during the period. Mufg Securities Americas Inc. raised its position in shares of NiSource by 9.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 14,441 shares of the utilities provider’s stock valued at $687,000 after acquiring an additional 1,200 shares during the period. Van ECK Associates Corp boosted its stake in NiSource by 10.0% during the 2nd quarter. Van ECK Associates Corp now owns 362,972 shares of the utilities provider’s stock worth $17,259,000 after acquiring an additional 32,888 shares during the last quarter. Finally, Nissay Asset Management Corp Japan boosted its stake in NiSource by 8.8% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 81,206 shares of the utilities provider’s stock worth $3,861,000 after acquiring an additional 6,547 shares during the last quarter. Institutional investors own 91.64% of the company’s stock.

Insider Activity at NiSource

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

NiSource Stock Down 1.0%

NI stock opened at $40.57 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41. The stock has a market capitalization of $19.46 billion, a P/E ratio of 21.58, a P/E/G ratio of 3.02 and a beta of 0.55. NiSource, Inc has a fifty-two week low of $38.45 and a fifty-two week high of $49.21. The business has a 50-day moving average of $44.82 and a 200-day moving average of $46.14.

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

NiSource Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. 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 analyst reports. KeyCorp cut their target price on shares of NiSource from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Mizuho decreased their price target on shares of NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company upped their price objective 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. 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 price objective on the stock. Finally, Citigroup lifted their target price on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.64.

NiSource Company 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.