Bank of New York Mellon Corp Cuts Stock Holdings in NiSource, Inc $NI

Bank of New York Mellon Corp lessened its holdings in NiSource, Inc (NYSE:NI) by 3.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,129,230 shares of the utilities provider’s stock after selling 118,226 shares during the quarter. Bank of New York Mellon Corp’s holdings in NiSource were worth $146,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Zions Bancorporation National Association UT raised its position in shares of NiSource by 113.8% in the 4th quarter. Zions Bancorporation National Association UT now owns 620 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 330 shares in the last quarter. Strive Financial Group LLC purchased a new position in NiSource in the fourth quarter valued at about $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in NiSource in the fourth quarter valued at about $27,000. DV Equities LLC bought a new position in NiSource in the fourth quarter worth about $28,000. Finally, Acumen Wealth Advisors LLC bought a new position in NiSource in the fourth quarter worth about $28,000. 91.64% of the stock is currently owned by institutional investors.

NiSource Price Performance

Shares of NI stock opened at $45.93 on Monday. NiSource, Inc has a fifty-two week low of $38.45 and a fifty-two week high of $49.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.65. The firm has a market capitalization of $22.02 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 3.42 and a beta of 0.55. The stock’s 50-day simple moving average is $46.99 and its 200-day simple moving average is $46.15.

NiSource (NYSE:NI) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.52 billion. NiSource had a net margin of 14.15% and a return on equity of 8.31%. 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. As a group, equities analysts forecast that NiSource, Inc will post 2.05 earnings per share for the current fiscal year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, July 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend 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 currently 59.70%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, EVP Melody Birmingham sold 10,000 shares of the company’s 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 transaction, the executive vice president directly owned 117,899 shares of the company’s stock, valued at $5,563,653.81. This represents a 7.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melanie B. Berman sold 15,000 shares of the company’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 completion of the transaction, the executive vice president directly owned 35,990 shares in the company, valued at approximately $1,716,003.20. The trade was a 29.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,500 shares of company stock valued at $1,305,675. Corporate 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.