Soroban Capital Partners LP Lowers Position in NiSource, Inc $NI

Soroban Capital Partners LP decreased its holdings in shares of NiSource, Inc (NYSE:NI) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,493,353 shares of the utilities provider’s stock after selling 894,427 shares during the period. NiSource makes up about 0.4% of Soroban Capital Partners LP’s holdings, making the stock its 17th largest holding. Soroban Capital Partners LP’s holdings in NiSource were worth $209,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NI. Vanguard Group Inc. increased its stake in NiSource by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 62,408,533 shares of the utilities provider’s stock worth $2,606,180,000 after acquiring an additional 1,032,630 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of NiSource by 19.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 51,504,257 shares of the utilities provider’s stock valued at $2,150,818,000 after acquiring an additional 8,240,227 shares during the last quarter. State Street Corp boosted its position in shares of NiSource by 4.5% during the 4th quarter. State Street Corp now owns 26,735,119 shares of the utilities provider’s stock valued at $1,116,459,000 after acquiring an additional 1,154,351 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of NiSource by 55,625.2% during the second quarter. Orion Porfolio Solutions LLC now owns 16,866,898 shares of the utilities provider’s stock worth $680,411,000 after purchasing an additional 16,836,630 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NiSource by 2.0% during the fourth 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 currently owned by hedge funds and other institutional investors.

NiSource Price Performance

NI opened at $45.80 on Tuesday. 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 stock has a market capitalization of $21.96 billion, a P/E ratio of 22.79, a PEG ratio of 3.42 and a beta of 0.55. The stock has a 50-day moving average price of $46.89 and a 200-day moving average price of $46.32. NiSource, Inc has a 12-month low of $38.45 and a 12-month high of $49.21.

NiSource (NYSE:NI) last announced 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. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.52 billion. NiSource had a return on equity of 8.31% and a net margin of 14.15%.During the same period last year, the firm posted $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Equities analysts predict that NiSource, Inc will post 2.08 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be given a dividend of $0.30 per share. 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 (DPR) is presently 59.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup raised their target price on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. BMO Capital Markets cut their price target on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Evercore set a $52.00 price target on shares of NiSource in a report on Monday, May 11th. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of NiSource in a research report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.30.

Insider Activity at NiSource

In other NiSource news, EVP Melanie B. Berman sold 15,000 shares of NiSource stock in a transaction that occurred 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 directly owned 35,990 shares of the company’s stock, valued at approximately $1,716,003.20. This trade represents a 29.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Melody Birmingham sold 10,000 shares of NiSource stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total transaction of $471,900.00. Following the completion of the transaction, the executive vice president owned 117,899 shares in the company, valued at approximately $5,563,653.81. The trade was a 7.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,500 shares of company stock worth $1,305,675 over the last three months. Insiders own 0.37% of the company’s stock.

NiSource 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.