OMERS ADMINISTRATION Corp Takes $1.07 Million Position in NiSource, Inc $NI

OMERS ADMINISTRATION Corp purchased a new stake in NiSource, Inc (NYSE:NI) in the second quarter, HoldingsChannel reports. The fund purchased 22,573 shares of the utilities provider’s stock, valued at approximately $1,073,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its position in 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 purchasing an additional 11,452 shares during the period. Woodline Partners LP raised its holdings in 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 during the period. Acadian Asset Management LLC bought a new stake in NiSource in the first quarter worth $105,000. Bank of Nova Scotia lifted its position in NiSource by 0.5% in the second 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 last quarter. Finally, AXA S.A. purchased a new position in NiSource during the second quarter worth $1,054,000. Hedge funds and other 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 NiSource stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $42.40, for a total value 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 $3,329,544.80. The trade was a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NI shares. Mizuho lowered their target price on shares of NiSource from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen lowered shares of NiSource from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. BMO Capital Markets decreased their price objective 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. Barclays dropped their target price on NiSource from $51.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NiSource in a report on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.64.

NiSource Trading Down 0.4%

NI stock opened at $40.95 on Friday. The company has a market capitalization of $19.64 billion, a PE ratio of 21.78, a P/E/G ratio of 3.06 and a beta of 0.55. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.50 and a quick ratio of 0.41. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $49.21. The firm’s 50-day moving average is $44.96 and its 200 day moving average is $46.18.

NiSource (NYSE:NI) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, hitting 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 net margin of 13.20% and a return on equity of 7.95%. During the same period last year, the company 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 EPS for the current year.

NiSource Dividend Announcement

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

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.