CI Investments Inc. Purchases 98,589 Shares of NiSource, Inc $NI

CI Investments Inc. boosted its position in shares of NiSource, Inc (NYSE:NI) by 215.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,399 shares of the utilities provider’s stock after acquiring an additional 98,589 shares during the period. CI Investments Inc.’s holdings in NiSource were worth $6,738,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Orion Porfolio Solutions LLC lifted its position in shares of NiSource by 55,625.2% during the 2nd 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 during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in NiSource by 19.0% in 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 buying an additional 8,240,227 shares during the last quarter. Norges Bank bought a new position in NiSource in the 4th quarter worth approximately $336,852,000. Millennium Management LLC increased its position in NiSource by 2,288.8% in the 3rd quarter. Millennium Management LLC now owns 3,166,313 shares of the utilities provider’s stock worth $137,101,000 after buying an additional 3,033,764 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of NiSource during the fourth quarter worth approximately $100,965,000. 91.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NI. Royal Bank Of Canada started coverage on shares of NiSource in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $52.00 price objective on the stock. Wall Street Zen cut shares of NiSource from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Citigroup increased their price target on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings lowered shares of NiSource from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, KeyCorp dropped their price objective on shares of NiSource from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, NiSource presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.30.

Insider Activity

In other NiSource news, EVP Melody Birmingham sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.19, for a total transaction of $471,900.00. Following the sale, the executive vice president directly owned 117,899 shares of the company’s stock, valued at approximately $5,563,653.81. This represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on Friday, May 22nd. The stock was sold at an average price of $47.68, for a total transaction of $715,200.00. Following the sale, the executive vice president directly owned 35,990 shares of the company’s stock, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,500 shares of company stock valued at $1,305,675 over the last three months. 0.37% of the stock is currently owned by insiders.

NiSource Price Performance

Shares of NI stock opened at $46.71 on Friday. The stock’s fifty day simple moving average is $46.89 and its 200 day simple moving average is $46.26. NiSource, Inc has a one year low of $38.45 and a one year high of $49.21. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 3.47 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.65 and a quick ratio of 0.56.

NiSource (NYSE:NI) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. NiSource had a return on equity of 8.31% and a net margin of 14.15%.The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $0.85 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. On average, analysts expect that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.6%. NiSource’s dividend payout ratio (DPR) is 59.70%.

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.