Bank of Nova Scotia Increases Stock Position in NiSource, Inc $NI

Bank of Nova Scotia lifted its position in shares of NiSource, Inc (NYSE:NI) by 243.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 673,457 shares of the utilities provider’s stock after buying an additional 477,187 shares during the period. Bank of Nova Scotia’s holdings in NiSource were worth $31,424,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Orion Porfolio Solutions LLC grew its stake in 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 buying an additional 16,836,630 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings 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 in the last quarter. Norges Bank purchased a new stake in NiSource during the 4th quarter worth $336,852,000. Millennium Management LLC boosted its position in NiSource by 2,288.8% during the 3rd quarter. Millennium Management LLC now owns 3,166,313 shares of the utilities provider’s stock worth $137,101,000 after purchasing an additional 3,033,764 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in NiSource in the 4th quarter valued at $100,965,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

NiSource Trading Down 0.2%

Shares of NYSE:NI opened at $46.66 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $46.90 and its 200 day moving average price is $46.26. The company has a market cap of $22.37 billion, a PE ratio of 23.21, a P/E/G ratio of 3.48 and a beta of 0.55. NiSource, Inc has a fifty-two week low of $38.45 and a fifty-two week high of $49.21.

NiSource (NYSE:NI) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm 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 earned $0.85 EPS. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. Sell-side analysts anticipate that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on NI shares. KeyCorp cut their price objective on NiSource from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays increased their target price on NiSource from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank Of Canada initiated coverage on NiSource in a report on Wednesday, July 1st. They set an “outperform” rating and a $52.00 target price on the stock. Evercore set a $52.00 price target on NiSource in a report on Monday, May 11th. Finally, Citigroup increased their price objective on shares of NiSource from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, NiSource has an average rating of “Moderate Buy” and an average price target of $50.30.

NiSource News Summary

Here are the key news stories impacting NiSource this week:

• Positive Sentiment: KeyCorp kept an Overweight rating on NiSource and reiterated a $50 price target, implying upside from current levels and signaling continued analyst confidence in the utility’s valuation. Benzinga report
• Positive Sentiment: KeyCorp raised its FY2027, FY2028, and FY2029 EPS estimates for NiSource, suggesting improving earnings power over the next several years and supporting the stock’s longer-term investment case.
• Positive Sentiment: Wells Fargo reportedly initiated or maintained a Buy view on NiSource, adding to the positive analyst backdrop around the stock. Nisource (NI) Gets a Buy from Wells Fargo
• Neutral Sentiment: KeyCorp trimmed near-term EPS estimates for Q2, Q3, and Q4 2026, which may temper enthusiasm somewhat, but the reductions were relatively small and did not change the firm’s overall positive stance.
• Neutral Sentiment: Consensus full-year earnings remain at about $2.05 per share, so the latest analyst revisions do not materially alter the broad earnings outlook yet.

Insider Buying and Selling

In related news, EVP Melody Birmingham sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $47.43, for a total transaction of $118,575.00. Following the sale, the executive vice president owned 116,036 shares of the company’s stock, valued at $5,503,587.48. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melanie B. Berman sold 15,000 shares of the company’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 value of $715,200.00. Following the completion of the sale, the executive vice president owned 35,990 shares of the company’s stock, valued at $1,716,003.20. This trade represents a 29.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 27,500 shares of company stock valued at $1,305,675. Company insiders own 0.37% of the company’s stock.

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.