Saudi Central Bank Grows Stock Holdings in NiSource, Inc $NI

Saudi Central Bank grew its position in shares of NiSource, Inc (NYSE:NI) by 90.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,555 shares of the utilities provider’s stock after acquiring an additional 15,941 shares during the period. Saudi Central Bank’s holdings in NiSource were worth $1,596,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NI. BlackRock Inc. purchased a new position in shares of NiSource during the second quarter valued at approximately $2,613,234,000. BNP Paribas Financial Markets lifted its stake in NiSource by 41.7% in the fourth quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider’s stock worth $37,228,000 after acquiring an additional 262,483 shares during the period. Norges Bank purchased a new stake in NiSource in the fourth quarter worth $336,852,000. Reaves W H & Co. Inc. boosted its holdings in NiSource by 8.3% in the fourth quarter. Reaves W H & Co. Inc. now owns 5,424,733 shares of the utilities provider’s stock valued at $226,537,000 after acquiring an additional 415,089 shares in the last quarter. Finally, Vestcor Inc increased its position in NiSource by 320.7% during the 4th quarter. Vestcor Inc now owns 65,854 shares of the utilities provider’s stock valued at $2,750,000 after purchasing an additional 50,200 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NiSource news, EVP Melody Birmingham sold 37,509 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 78,527 shares in the company, valued at approximately $3,329,544.80. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

NiSource Stock Up 1.4%

Shares of NYSE:NI opened at $41.97 on Wednesday. The stock has a fifty day simple moving average of $43.91 and a two-hundred day simple moving average of $45.94. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 3.09 and a beta of 0.54. NiSource, Inc has a 12-month low of $39.29 and a 12-month high of $49.21. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31.

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

NiSource Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, October 30th. NiSource’s dividend payout ratio is 63.83%.

Wall Street Analyst Weigh In

Several research analysts have commented on NI shares. KeyCorp decreased their price objective on shares of NiSource from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. BMO Capital Markets reduced their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of NiSource in a research note on Tuesday, July 21st. Mizuho lowered their price objective on shares of NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. Finally, Wall Street Zen cut NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. 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.com, 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.