Fifth Third Bancorp Purchases 111,379 Shares of NiSource, Inc $NI

Fifth Third Bancorp lifted its position in shares of NiSource, Inc (NYSE:NI) by 1,028.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,204 shares of the utilities provider’s stock after purchasing an additional 111,379 shares during the quarter. Fifth Third Bancorp’s holdings in NiSource were worth $5,702,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. BNP Paribas Financial Markets raised its position in NiSource by 41.7% in the 4th quarter. BNP Paribas Financial Markets now owns 891,464 shares of the utilities provider’s stock valued at $37,228,000 after buying an additional 262,483 shares during the last quarter. Norges Bank purchased a new position in NiSource during the 4th quarter worth $336,852,000. De Lisle Partners LLP bought a new stake in shares of NiSource in the 4th quarter worth $4,176,000. Reaves W H & Co. Inc. grew its stake in shares of NiSource by 8.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 5,424,733 shares of the utilities provider’s stock worth $226,537,000 after acquiring an additional 415,089 shares in the last quarter. Finally, Vestcor Inc raised its holdings in shares of NiSource by 320.7% in the fourth 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 last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

NiSource Price Performance

Shares of NiSource stock opened at $45.93 on Friday. The firm has a market capitalization of $22.02 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 3.44 and a beta of 0.55. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. NiSource, Inc has a 12 month low of $38.45 and a 12 month high of $49.21. The business’s 50-day moving average price is $46.99 and its 200-day moving average price is $46.12.

NiSource (NYSE:NI) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Sell-side analysts forecast that NiSource, Inc will post 2.05 EPS for the current fiscal year.

NiSource Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NI shares. Citigroup boosted their target price on NiSource from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Evercore set a $52.00 price target on shares of NiSource in a report on Monday, May 11th. KeyCorp initiated coverage on shares of NiSource in a report on Tuesday, March 31st. They set an “overweight” rating and a $52.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of NiSource from $51.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Weiss Ratings cut shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, NiSource presently has an average rating of “Moderate Buy” and an average target price of $50.30.

Insider Activity

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.19, for a total value 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. This represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Melanie B. Berman sold 15,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $47.68, for a total value of $715,200.00. Following the transaction, the executive vice president directly owned 35,990 shares of the company’s stock, valued at $1,716,003.20. This represents a 29.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,500 shares of company stock worth $1,305,675 in the last quarter. 0.37% of the stock is owned by corporate insiders.

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.